State Board of Administration of Florida Retirement System boosted its stake in shares of Apollo Global Management, Inc. (NYSE:APO – Get Rating) by 81.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 377,811 shares of the financial services provider’s stock after purchasing an additional 169,344 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Apollo Global Management were worth $23,420,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evoke Wealth LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $25,000. Byrne Asset Management LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $25,000. Clearstead Advisors LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $27,000. CWM LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Apollo Global Management during the 1st quarter worth about $36,000. 61.48% of the stock is owned by institutional investors and hedge funds.
Apollo Global Management Trading Down 0.8 %
APO stock opened at $57.53 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.26. Apollo Global Management, Inc. has a 12-month low of $45.97 and a 12-month high of $81.07. The stock has a market cap of $33.05 billion, a price-to-earnings ratio of -18.50, a PEG ratio of 0.68 and a beta of 1.65. The business’s 50-day moving average is $53.20 and its 200 day moving average is $58.05.
Apollo Global Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Thursday, August 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date is Wednesday, August 17th. Apollo Global Management’s payout ratio is -51.45%.
Insider Buying and Selling
In other Apollo Global Management news, CFO Martin Kelly sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $55.06, for a total value of $1,101,200.00. Following the transaction, the chief financial officer now directly owns 541,385 shares of the company’s stock, valued at approximately $29,808,658.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
APO has been the topic of several analyst reports. Morgan Stanley downgraded Apollo Global Management from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $81.00 to $60.00 in a research report on Tuesday, July 19th. Wells Fargo & Company dropped their target price on Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. TheStreet cut Apollo Global Management from a “b” rating to a “c” rating in a research report on Thursday, May 5th. Oppenheimer upgraded Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research report on Wednesday, April 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Apollo Global Management from $88.00 to $91.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.44.
Apollo Global Management Company Profile
Apollo Global Management, Inc is a private equity firm specializing investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
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