Louisiana State Employees Retirement System Makes New Investment in Apollo Global Management Inc. $APO

Louisiana State Employees Retirement System bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,700 shares of the financial services provider’s stock, valued at approximately $2,641,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank grew its stake in Apollo Global Management by 4.0% during the 3rd quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider’s stock worth $167,562,000 after buying an additional 48,400 shares during the last quarter. Strive Asset Management LLC bought a new stake in Apollo Global Management in the third quarter valued at $27,420,000. Swiss Life Asset Management Ltd boosted its holdings in shares of Apollo Global Management by 26.0% during the third quarter. Swiss Life Asset Management Ltd now owns 48,201 shares of the financial services provider’s stock valued at $6,424,000 after acquiring an additional 9,936 shares during the period. Onex Canada Asset Management Inc. boosted its holdings in shares of Apollo Global Management by 13.9% during the third quarter. Onex Canada Asset Management Inc. now owns 379,431 shares of the financial services provider’s stock valued at $50,566,000 after acquiring an additional 46,335 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Apollo Global Management by 4.5% during 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 acquiring an additional 155,857 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 0.3%

Apollo Global Management stock opened at $118.66 on Monday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The stock has a market cap of $68.41 billion, a price-to-earnings ratio of 75.58, a PEG ratio of 1.02 and a beta of 1.50. The company’s 50-day moving average price is $129.59 and its two-hundred day moving average price is $127.86. 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 issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 EPS. On average, analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal 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 given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s payout ratio is currently 143.31%.

Wall Street Analyst Weigh In

APO has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. TD Cowen decreased their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Piper Sandler raised their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Barclays boosted their price objective 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. Finally, The Goldman Sachs Group decreased their price objective on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.23.

Insider Transactions at Apollo Global Management

In other Apollo Global Management 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 transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.30% of the company’s stock.

Apollo Global Management Company 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.