Public Employees Retirement System of Ohio Purchases New Position in Apollo Global Management Inc. $APO

Public Employees Retirement System of Ohio purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 161,987 shares of the financial services provider’s stock, valued at approximately $19,165,000.

A number of other hedge funds also recently bought and sold shares of APO. Geode Capital Management LLC increased its position in shares of Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock valued at $1,469,793,000 after buying an additional 200,312 shares in the last quarter. Northern Trust Corp grew its stake in Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after acquiring an additional 62,831 shares during the period. Legal & General Group Plc acquired a new stake in Apollo Global Management in the 2nd quarter valued at $459,987,000. Charles Schwab Investment Management Inc. increased its holdings in Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after acquiring an additional 98,945 shares in the last quarter. Finally, Boston Partners raised its position in Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 1.5%

APO opened at $135.39 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The company’s 50 day simple moving average is $126.22 and its two-hundred day simple moving average is $122.87. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The firm has a market capitalization of $79.95 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the company earned $1.92 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio (DPR) is 82.42%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. UBS Group upped their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. HSBC started coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 price target on the stock. Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.77.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by company insiders.

Apollo Global Management 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.