California State Teachers Retirement System Boosts Stock Position in Apollo Global Management Inc. $APO

California State Teachers Retirement System lifted its stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 11,307.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,430,521 shares of the financial services provider’s stock after acquiring an additional 72,786,808 shares during the quarter. California State Teachers Retirement System owned approximately 12.43% of Apollo Global Management worth $8,687,565,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APO. 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 purchasing an additional 155,857 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Apollo Global Management during the first quarter valued at approximately $2,641,000. PNC Financial Services Group Inc. lifted its holdings in shares of Apollo Global Management by 13.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider’s stock worth $9,773,000 after buying an additional 8,003 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Apollo Global Management by 7.1% in the fourth quarter. Hsbc Holdings PLC now owns 894,451 shares of the financial services provider’s stock worth $129,786,000 after buying an additional 59,585 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Apollo Global Management by 1,137.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,355 shares of the financial services provider’s stock worth $3,526,000 after acquiring an additional 22,387 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. 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 owned by insiders.

Analyst Upgrades and Downgrades

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APO has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. UBS Group increased their price objective on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Piper Sandler reduced their target price on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Finally, BMO Capital Markets dropped their price target on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.15.

Check Out Our Latest Report on APO

Apollo Global Management Stock Performance

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Shares of NYSE:APO opened at $131.91 on Wednesday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The stock has a market capitalization of $77.90 billion, a P/E ratio of 48.32, a PEG ratio of 1.17 and a beta of 1.52. The firm has a fifty day simple moving average of $127.67 and a two-hundred day simple moving average of $123.14. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO – Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. On average, analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management’s dividend payout ratio is 82.42%.

Apollo Global Management Profile

(Free Report)

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and retirement services. The company serves institutional investors, businesses and individual investors through a range of strategies focused on private equity, credit, real assets and other long-term investments.

Apollo’s asset-management business invests across industries and geographies, with activities that include corporate and structured credit, private equity, infrastructure, real estate and hybrid strategies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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