Apollo Global Management Inc. $APO Stock: Retirement Systems of Alabama Boosts Holdings

Retirement Systems of Alabama increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 164.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,216 shares of the financial services provider’s stock after buying an additional 159,326 shares during the period. Retirement Systems of Alabama’s holdings in Apollo Global Management were worth $29,736,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Apollo Global Management by 4.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock valued at $669,372,000 after acquiring an additional 234,517 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Apollo Global Management in the second quarter worth $459,987,000. Bank of New York Mellon Corp grew its stake in shares of Apollo Global Management by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 2,901,110 shares of the financial services provider’s stock worth $323,242,000 after purchasing an additional 188,668 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in shares of Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Finally, Curated Wealth Partners LLC increased its holdings in Apollo Global Management by 91.8% in the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after purchasing an additional 1,055,818 shares during the period. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on APO. Morgan Stanley cut their target price on Apollo Global Management from $150.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. Bank of America decreased their price target on Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. Wells Fargo & Company initiated coverage on Apollo Global Management in a research report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 4th. Finally, Argus reduced their target price on Apollo Global Management from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.21.

Apollo Global Management Price Performance

APO stock opened at $122.61 on Wednesday. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of -67.00, a PEG ratio of 1.14 and a beta of 1.51. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.41. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company’s fifty day simple moving average is $120.24 and its 200 day simple moving average is $122.78.

Apollo Global Management Dividend Announcement

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

Insider Transactions at Apollo Global Management

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

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.