Apollo Global Management Inc. $APO Stake Boosted by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 159.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,862 shares of the financial services provider’s stock after purchasing an additional 36,762 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Apollo Global Management were worth $6,948,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Apollo Global Management in the 2nd quarter worth about $459,987,000. Bank of New York Mellon Corp bought a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $336,644,000. Temasek Holdings Private Ltd grew its position in shares of Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after buying an additional 1,614,813 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Apollo Global Management during the second quarter worth about $136,528,000. Institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Whitney Chatterjee sold 7,339 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total transaction of $864,754.37. Following the transaction, the insider directly owned 129,151 shares in the company, valued at approximately $15,217,862.33. The trade was a 5.38% decrease in their position. The SEC filing for this sale provides additional information. 8.30% of the stock is owned by insiders.

Apollo Global Management Stock Up 0.3%

APO opened at $123.06 on Thursday. The stock’s 50 day moving average price is $120.07 and its 200 day moving average price is $122.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $72.67 billion, a P/E ratio of -67.25, a P/E/G ratio of 1.16 and a beta of 1.51. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, November 18th. Apollo Global Management’s payout ratio is currently -122.95%.

Analysts Set New Price Targets

A number of brokerages have issued reports on APO. Bank of America cut their target price on shares of Apollo Global Management from $163.00 to $161.00 in a report on Monday, October 5th. JPMorgan Chase & Co. upped their target price on Apollo Global Management from $153.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Keefe, Bruyette & Woods cut their price target on Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, November 4th. Jefferies Financial Group cut their price target on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Finally, Argus reduced their price objective on Apollo Global Management from $160.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, November 6th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.21.

Apollo Global Management Company Profile

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors. The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform. Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.