Louisiana State Employees Retirement System Acquires Shares of 24,000 Apollo Global Management, Inc. (NYSE:APO)

Louisiana State Employees Retirement System purchased a new position in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 24,000 shares of the financial services provider’s stock, valued at approximately $3,964,000.

Several other large investors have also recently modified their holdings of APO. Leavell Investment Management Inc. increased its position in shares of Apollo Global Management by 39.8% during the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 1,750 shares during the last quarter. Fortress Financial Solutions LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $685,000. Mill Creek Capital Advisors LLC boosted its stake in shares of Apollo Global Management by 71.1% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 8,569 shares of the financial services provider’s stock worth $1,415,000 after acquiring an additional 3,560 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $3,994,000. Finally, Stephens Inc. AR increased its stake in shares of Apollo Global Management by 28.3% in the 4th quarter. Stephens Inc. AR now owns 183,971 shares of the financial services provider’s stock worth $30,385,000 after purchasing an additional 40,572 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APO. Piper Sandler boosted their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Wells Fargo & Company decreased their target price on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Barclays lifted their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management Trading Down 0.4 %

Shares of NYSE APO opened at $157.46 on Thursday. The stock has a market capitalization of $89.09 billion, a P/E ratio of 21.54, a PEG ratio of 1.28 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50 day moving average is $168.28 and its two-hundred day moving average is $145.59. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,600 shares of company stock worth $34,186,128 over the last quarter. 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.