Retirement Systems of Alabama Purchases Shares of 96,778 Apollo Global Management, Inc. (NYSE:APO)

Retirement Systems of Alabama acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 96,778 shares of the financial services provider’s stock, valued at approximately $15,984,000.

Other institutional investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management during the third quarter valued at $35,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $39,000. UMB Bank n.a. grew its position in shares of Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 228 shares during the period. Prospera Private Wealth LLC acquired a new position in Apollo Global Management in the 3rd quarter worth about $80,000. Finally, Truvestments Capital LLC acquired a new position in Apollo Global Management in the 3rd quarter worth about $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on APO. TD Cowen boosted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. BMO Capital Markets boosted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Piper Sandler increased their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI raised their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Apollo Global Management Trading Down 0.6 %

Shares of APO opened at $164.76 on Friday. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market capitalization of $93.22 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.37 and a beta of 1.63. The firm has a 50-day moving average price of $169.37 and a 200 day moving average price of $144.39. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.12%. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now directly owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 in the last 90 days. Insiders own 8.50% of the company’s stock.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.