New York State Teachers Retirement System Purchases 4,421 Shares of Apollo Global Management Inc. $APO

New York State Teachers Retirement System grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,966 shares of the financial services provider’s stock after buying an additional 4,421 shares during the period. New York State Teachers Retirement System owned 0.05% of Apollo Global Management worth $34,536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APO. Schnieders Capital Management LLC. bought a new stake in Apollo Global Management during the second quarter worth about $7,954,000. Baird Financial Group Inc. increased its stake in shares of Apollo Global Management by 117.5% during the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock valued at $2,287,000 after purchasing an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Apollo Global Management by 4.8% during the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of Apollo Global Management during the second quarter valued at approximately $722,000. Finally, Northern Right Capital Management L.P. boosted its position in shares of Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock worth $24,542,000 after purchasing an additional 2,500 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of APO opened at $118.71 on Friday. The company has a market cap of $68.44 billion, a price-to-earnings ratio of 75.61, a P/E/G ratio of 1.02 and a beta of 1.50. The business’s fifty day simple moving average is $128.79 and its two-hundred day simple moving average is $126.95. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. Research analysts anticipate that Apollo Global Management Inc. will post 8.26 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is 143.31%.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APO. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Piper Sandler boosted their target price on Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. UBS Group increased their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. TD Cowen reduced their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, Barclays lifted their price target on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.23.

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.