New York State Teachers Retirement System Increases Holdings in Apollo Global Management Inc. $APO

New York State Teachers Retirement System grew its position in shares of Apollo Global Management Inc. (NYSE:APO) by 1.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 309,966 shares of the financial services provider’s stock after acquiring an additional 4,421 shares during the quarter. New York State Teachers Retirement System’s holdings in Apollo Global Management were worth $34,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Schnieders Capital Management LLC. purchased a new stake in Apollo Global Management during the second quarter valued at $7,954,000. Baird Financial Group Inc. lifted its holdings in Apollo Global Management by 117.5% in the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock valued at $2,287,000 after acquiring an additional 8,709 shares during the period. Gamco Investors INC. ET AL boosted its position in Apollo Global Management by 4.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Apollo Global Management in the second quarter worth about $722,000. Finally, Northern Right Capital Management L.P. grew its stake in shares of Apollo Global Management by 1.5% during the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock valued at $24,542,000 after purchasing an additional 2,500 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $118.71 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The stock has a market cap of $68.44 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 1.02 and a beta of 1.50. The company’s 50 day moving average is $128.79 and its two-hundred day moving average is $126.95.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8.26 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.9%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is currently 143.31%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APO. Piper Sandler upped their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley cut their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Royal Bank Of Canada increased their price target on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.23.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.