Great Lakes Retirement Inc. Increases Position in Apollo Global Management, Inc. (NYSE:APO)

Great Lakes Retirement Inc. lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,605 shares of the financial services provider’s stock after acquiring an additional 791 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Apollo Global Management were worth $1,315,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Amundi grew its stake in Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after purchasing an additional 93,451 shares in the last quarter. State of Michigan Retirement System acquired a new position in Apollo Global Management in the fourth quarter worth about $20,034,000. Massachusetts Financial Services Co. MA boosted its stake in Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after acquiring an additional 1,886,146 shares during the period. Coordinated Financial Services Inc. acquired a new position in Apollo Global Management in the fourth quarter valued at approximately $473,000. Finally, Blue Whale Capital LLP acquired a new position in Apollo Global Management in the fourth quarter valued at approximately $47,400,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APO has been the subject of a number of research reports. TD Cowen decreased their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Piper Sandler decreased their target price on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company lifted their price target on Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Morgan Stanley cut their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Bank of America lifted their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.00.

Insiders Place Their Bets

In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Apollo Global Management Trading Down 4.3%

Shares of NYSE:APO opened at $132.16 on Monday. The stock has a market capitalization of $75.53 billion, a PE ratio of 18.08, a P/E/G ratio of 1.17 and a beta of 1.59. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a fifty day moving average price of $132.32 and a 200 day moving average price of $148.39. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.72 earnings per share. Analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.51 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.54%. Apollo Global Management’s payout ratio is currently 35.73%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.