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

California Public Employees Retirement System lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities & 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 owned approximately 0.17% of Apollo Global Management worth $88,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Blueprint LLC boosted its stake in shares of Apollo Global Management by 42.4% in the 4th quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock worth $4,341,000 after buying an additional 13,870 shares during the last quarter. Nordea Investment Management AB lifted its stake in Apollo Global Management by 129.8% in the fourth quarter. Nordea Investment Management AB now owns 658,008 shares of the financial services provider’s stock valued at $61,497,000 after purchasing an additional 371,721 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Apollo Global Management by 39.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 185,206 shares of the financial services provider’s stock valued at $17,259,000 after purchasing an additional 52,063 shares during the last quarter. Raymond James & Associates lifted its stake in Apollo Global Management by 3.5% in the fourth quarter. Raymond James & Associates now owns 1,073,419 shares of the financial services provider’s stock valued at $100,032,000 after purchasing an additional 36,748 shares during the last quarter. Finally, Pathstone Family Office LLC lifted its stake in Apollo Global Management by 28.6% in the third quarter. Pathstone Family Office LLC now owns 26,993 shares of the financial services provider’s stock valued at $2,423,000 after purchasing an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the completion of the sale, the insider now owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the sale, the insider now owns 44,104,773 shares in the company, valued at $4,915,035,903.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the sale, the chief financial officer now owns 366,572 shares in the company, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,426,000 shares of company stock valued at $158,226,960. Company insiders own 8.70% of the company’s stock.

Apollo Global Management Price Performance

NYSE:APO opened at $112.72 on Thursday. The firm has a market capitalization of $64.04 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.95 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $57.50 and a 52-week high of $117.15. The stock has a fifty day moving average of $111.29 and a 200 day moving average of $98.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54.

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

Apollo Global Management Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price objective on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Citigroup upped their price objective on Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.33.

Apollo Global Management 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.