California State Teachers Retirement System Sells 3,480 Shares of Apollo Global Management, Inc. (NYSE:APO)

California State Teachers Retirement System cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 637,646 shares of the financial services provider’s stock after selling 3,480 shares during the period. California State Teachers Retirement System’s holdings in Apollo Global Management were worth $71,703,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in APO. Los Angeles Capital Management LLC increased its stake in shares of Apollo Global Management by 112.3% during the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after buying an additional 552,893 shares during the period. Strategic Blueprint LLC boosted its position in Apollo Global Management by 42.4% during the 4th quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock valued at $4,341,000 after acquiring an additional 13,870 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Apollo Global Management by 287.5% during the fourth quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock valued at $28,683,000 after purchasing an additional 228,367 shares in the last quarter. Wells Fargo & Company MN grew its stake in Apollo Global Management by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock worth $88,599,000 after purchasing an additional 50,008 shares during the period. Finally, CenterBook Partners LP raised its holdings in Apollo Global Management by 59.9% in the fourth quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock worth $1,933,000 after purchasing an additional 7,769 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. BMO Capital Markets boosted their target price on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Evercore ISI raised their price target on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 15th. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $119.29.

Apollo Global Management Stock Performance

APO traded up $2.61 during mid-day trading on Wednesday, reaching $125.25. 3,662,814 shares of the company traded hands, compared to its average volume of 2,370,308. The company’s fifty day moving average price is $118.51 and its 200-day moving average price is $112.38. The stock has a market capitalization of $71.16 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.00 and a beta of 1.59. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.45.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The firm had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $827.33 million. On average, sell-side analysts expect that Apollo Global Management, Inc. will post 7.09 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio is 20.49%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.