California Public Employees Retirement System Decreases Holdings in Apollo Global Management, Inc. (NYSE:APO)

California Public Employees Retirement System cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 952,405 shares of the financial services provider’s stock after selling 27,229 shares during the period. California Public Employees Retirement System’s holdings in Apollo Global Management were worth $88,755,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sigma Planning Corp purchased a new stake in Apollo Global Management during the 4th quarter valued at $225,000. Handelsbanken Fonder AB increased its stake in shares of Apollo Global Management by 56.6% in the 4th quarter. Handelsbanken Fonder AB now owns 143,708 shares of the financial services provider’s stock worth $13,392,000 after purchasing an additional 51,945 shares in the last quarter. CWM LLC increased its stake in shares of Apollo Global Management by 3.0% in the 4th quarter. CWM LLC now owns 5,727 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 169 shares in the last quarter. Signaturefd LLC increased its stake in shares of Apollo Global Management by 5.7% in the 4th quarter. Signaturefd LLC now owns 8,174 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 443 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Apollo Global Management by 60.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,206 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 455 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 0.9 %

APO opened at $112.72 on Thursday. The firm has a 50-day simple moving average of $111.29 and a two-hundred day simple moving average of $98.98. Apollo Global Management, Inc. has a 52 week low of $57.50 and a 52 week high of $117.15. The company has a market capitalization of $64.04 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.95 and a beta of 1.63. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $823.27 million. Analysts forecast that Apollo Global Management, Inc. will post 7.44 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.45%.

Insider Buying and Selling at Apollo Global Management

In related news, insider James C. Zelter sold 150,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.16, for a total value of $16,374,000.00. Following the completion of the transaction, the insider now owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider James C. Zelter sold 150,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.16, for a total value of $16,374,000.00. Following the completion of the transaction, the insider now owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the completion of the transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 in the last 90 days. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup upped their price objective on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. BMO Capital Markets upped their price objective on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays upped their target price on shares of Apollo Global Management from $122.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.33.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.