Public Employees Retirement Association of Colorado Reduces Stake in Apollo Global Management, Inc. (NYSE:APO)

Public Employees Retirement Association of Colorado reduced its position in Apollo Global Management, Inc. (NYSE:APO) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,244 shares of the financial services provider’s stock after selling 1,979 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Apollo Global Management were worth $6,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Apollo Global Management by 1.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,046 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 191 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of Apollo Global Management by 3.9% in the 2nd quarter. Ieq Capital LLC now owns 30,891 shares of the financial services provider’s stock worth $3,647,000 after buying an additional 1,172 shares during the last quarter. XTX Topco Ltd bought a new position in Apollo Global Management in the 2nd quarter worth $2,992,000. Carolinas Wealth Consulting LLC raised its holdings in Apollo Global Management by 13.2% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 2,159 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 252 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Apollo Global Management by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 280,068 shares of the financial services provider’s stock worth $33,094,000 after purchasing an additional 33,484 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

NYSE:APO opened at $124.48 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $70.72 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.45. The business’s 50-day moving average is $113.64 and its 200 day moving average is $113.69.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same period in the previous year, the firm earned $1.54 earnings per share. On average, equities research analysts forecast that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.49%. Apollo Global Management’s dividend payout ratio is 20.49%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APO shares. Redburn Atlantic started coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Redburn Partners assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.06.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards bought 2,351 shares of the stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

About Apollo Global Management

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.