Teachers Retirement System of The State of Kentucky Acquires 32,000 Shares of Apollo Global Management, Inc. (NYSE:APO)

Teachers Retirement System of The State of Kentucky lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 15.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,800 shares of the financial services provider’s stock after acquiring an additional 32,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Apollo Global Management were worth $28,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in shares of Apollo Global Management by 3.3% in the second quarter. Cetera Investment Advisers now owns 51,218 shares of the financial services provider’s stock worth $6,047,000 after buying an additional 1,657 shares in the last quarter. Senator Investment Group LP boosted its holdings in Apollo Global Management by 15.4% in the 2nd quarter. Senator Investment Group LP now owns 750,000 shares of the financial services provider’s stock valued at $88,552,000 after purchasing an additional 100,000 shares during the period. EP Wealth Advisors LLC boosted its holdings in Apollo Global Management by 5.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 3,375 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 185 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Apollo Global Management by 127.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 26,391 shares of the financial services provider’s stock valued at $3,116,000 after purchasing an additional 14,812 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Apollo Global Management by 11.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,404 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 560 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $124.91 on Tuesday. The business has a 50 day moving average of $114.01 and a 200 day moving average of $114.38. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.93. The company has a market cap of $70.97 billion, a PE ratio of 13.83, a P/E/G ratio of 1.30 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS 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 during the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, equities research analysts forecast that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.48%. Apollo Global Management’s payout ratio is 20.49%.

Insiders Place Their Bets

In other news, Director Pauline Richards acquired 2,351 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on APO shares. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Redburn Partners assumed coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Argus decreased their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $129.65.

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.