Apollo Global Management Inc. $APO Stock Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 213.1% in the third quarter, Holdings Channel.com reports. The fund owned 71,371 shares of the financial services provider’s stock after purchasing an additional 48,576 shares during the period. Maryland State Retirement & Pension System’s holdings in Apollo Global Management were worth $8,283,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APO. Legal & General Group Plc acquired a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp purchased a new position in Apollo Global Management in the 2nd quarter valued at approximately $336,644,000. Temasek Holdings Private Ltd raised its holdings in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Deutsche Bank AG acquired a new position in Apollo Global Management during the second quarter worth $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Apollo Global Management during the second quarter worth $136,528,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 1.4%

Shares of APO opened at $121.25 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.41 and a quick ratio of 1.41. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The stock has a market cap of $71.60 billion, a price-to-earnings ratio of -66.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.51. The firm has a 50 day simple moving average of $119.85 and a 200-day simple moving average of $122.66.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.25 annualized dividend and a yield of 1.9%. Apollo Global Management’s dividend payout ratio (DPR) is presently -122.95%.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group decreased their target price on Apollo Global Management from $163.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. HSBC initiated coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target on shares of Apollo Global Management in a research note on Wednesday, November 4th. Keefe, Bruyette & Woods decreased their price objective on shares of Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 4th. Finally, Jefferies Financial Group lowered their price objective on shares of Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.21.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 7,339 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total value of $864,754.37. Following the completion of the transaction, the insider directly owned 129,151 shares of the company’s stock, valued at $15,217,862.33. The trade was a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.30% of the company’s stock.

Apollo Global Management Profile

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors. The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform. Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.