State of New Jersey Common Pension Fund D Raises Stock Holdings in Apollo Global Management Inc. $APO

State of New Jersey Common Pension Fund D lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,748 shares of the financial services provider’s stock after buying an additional 6,098 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Apollo Global Management were worth $18,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Amundi raised its stake in Apollo Global Management by 68.9% during the 2nd quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock worth $187,199,000 after acquiring an additional 534,904 shares during the period. Marshall Wace LLP increased its stake in shares of Apollo Global Management by 5,670.1% in the second quarter. Marshall Wace LLP now owns 395,020 shares of the financial services provider’s stock worth $56,041,000 after purchasing an additional 388,174 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Apollo Global Management by 31.1% in the third quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after purchasing an additional 383,198 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Apollo Global Management by 54.3% during the 2nd quarter. Westfield Capital Management Co. LP now owns 761,721 shares of the financial services provider’s stock valued at $108,065,000 after purchasing an additional 268,119 shares during the period. Finally, Select Equity Group L.P. lifted its stake in shares of Apollo Global Management by 52.9% during the 2nd quarter. Select Equity Group L.P. now owns 689,212 shares of the financial services provider’s stock valued at $97,779,000 after buying an additional 238,327 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction of $788,460.00. Following the transaction, the chief financial officer owned 325,604 shares in the company, valued at $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore increased their price target on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $165.00 price objective on shares of Apollo Global Management in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.79.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $124.99 on Monday. The firm has a fifty day simple moving average of $140.99 and a two-hundred day simple moving average of $135.76. The company has a quick ratio of 1.49, a current ratio of 1.31 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $72.55 billion, a P/E ratio of 22.64, a PEG ratio of 1.08 and a beta of 1.57. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $164.22.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Monday, February 9th. The financial services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.43. Apollo Global Management had a net margin of 10.90% and a return on equity of 15.25%. The firm had revenue of $9.86 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $2.39 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 19th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management’s payout ratio is currently 36.96%.

About Apollo Global Management

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.