California State Teachers Retirement System Has $71.72 Million Position in Apollo Global Management Inc. $APO

California State Teachers Retirement System reduced its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 643,713 shares of the financial services provider’s stock after selling 14,897 shares during the quarter. California State Teachers Retirement System’s holdings in Apollo Global Management were worth $71,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Legal & General Group Plc lifted its stake in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares during the last quarter. Sandro Wealth Management LLC purchased a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $1,599,000. Asset Management One Co. Ltd. grew its stake in shares of Apollo Global Management by 6.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock valued at $27,936,000 after buying an additional 10,876 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after buying an additional 340,956 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apollo Global Management by 16.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider’s stock worth $14,319,000 after buying an additional 13,625 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction 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 in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO opened at $120.41 on Friday. The company has a 50-day moving average of $125.39 and a two-hundred day moving average of $123.26. The stock has a market cap of $69.42 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.04 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts expect that Apollo Global Management Inc. will post 8.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is an increase 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 annualized dividend and a yield of 1.9%. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group boosted their price objective on Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Morgan Stanley decreased their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. HSBC started coverage on shares of Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, 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 report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.08.

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.