Apollo Global Management Inc. $APO Position Increased by Arizona State Retirement System

Arizona State Retirement System raised its position in Apollo Global Management Inc. (NYSE:APO) by 9.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,324 shares of the financial services provider’s stock after purchasing an additional 10,582 shares during the quarter. Arizona State Retirement System’s holdings in Apollo Global Management were worth $16,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pittenger & Anderson Inc. grew its stake in shares of Apollo Global Management by 7.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 3,600 shares of the financial services provider’s stock valued at $480,000 after buying an additional 250 shares in the last quarter. Valley Wealth Managers Inc. grew its position in Apollo Global Management by 13.3% in the third quarter. Valley Wealth Managers Inc. now owns 4,926 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 579 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Apollo Global Management by 8.0% during the 3rd quarter. Golden State Wealth Management LLC now owns 6,271 shares of the financial services provider’s stock worth $836,000 after purchasing an additional 465 shares during the last quarter. AE Wealth Management LLC increased its stake in shares of Apollo Global Management by 1.2% during the 3rd quarter. AE Wealth Management LLC now owns 14,889 shares of the financial services provider’s stock worth $1,984,000 after purchasing an additional 177 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Apollo Global Management during the 3rd quarter valued at $6,390,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction of $788,460.00. Following the transaction, the chief financial officer owned 325,604 shares of the company’s stock, valued at approximately $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.20% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $134.56 on Friday. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $174.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $78.10 billion, a PE ratio of 19.67, a P/E/G ratio of 1.21 and a beta of 1.59. The stock has a 50-day simple moving average of $141.60 and a 200 day simple moving average of $137.40.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, November 17th. Apollo Global Management’s dividend payout ratio is currently 29.82%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley raised shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $151.00 to $180.00 in a research report on Thursday, November 20th. Evercore ISI upped their price target on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. BMO Capital Markets set a $136.00 price objective on Apollo Global Management and gave the company a “market perform” rating in a report on Tuesday, November 25th. Keefe, Bruyette & Woods boosted their target price on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Apollo Global Management in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.62.

About Apollo Global Management

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.