Louisiana State Employees Retirement System Makes New Investment in Apollo Global Management Inc. $APO

Louisiana State Employees Retirement System purchased a new stake in Apollo Global Management Inc. (NYSE:APO) in the first quarter, Holdings Channel reports. The institutional investor purchased 23,700 shares of the financial services provider’s stock, valued at approximately $2,641,000.

Several other large investors also recently made changes to their positions in APO. Schnieders Capital Management LLC. bought a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $7,954,000. Baird Financial Group Inc. boosted its holdings in Apollo Global Management by 117.5% during the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after buying an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL grew 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 buying an additional 305 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of Apollo Global Management in the second quarter valued at $722,000. Finally, Northern Right Capital Management L.P. increased its holdings in shares of Apollo Global Management by 1.5% in the second 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 buying an additional 2,500 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.3%

Shares of NYSE:APO opened at $118.66 on Monday. The firm has a fifty day moving average of $129.59 and a two-hundred day moving average of $127.86. The company has a quick ratio of 1.73, a current 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 firm has a market capitalization of $68.41 billion, a P/E ratio of 75.58, a price-to-earnings-growth ratio of 1.02 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. On average, equities analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Wall Street Analysts Forecast Growth

APO has been the subject of several research reports. BMO Capital Markets reduced their price objective on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. TD Cowen decreased their price objective on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. One 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.23.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.30% of the stock is currently owned by corporate insiders.

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.