New York State Teachers Retirement System Invests $50.60 Million in Apollo Global Management, Inc. (NYSE:APO)

New York State Teachers Retirement System purchased a new position in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 306,377 shares of the financial services provider’s stock, valued at approximately $50,601,000. New York State Teachers Retirement System owned 0.05% of Apollo Global Management at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APO. Creative Planning boosted its holdings in shares of Apollo Global Management by 5.9% in the third quarter. Creative Planning now owns 41,784 shares of the financial services provider’s stock worth $5,219,000 after acquiring an additional 2,316 shares during the period. Swedbank AB boosted its holdings in shares of Apollo Global Management by 50.9% in the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after acquiring an additional 26,300 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of Apollo Global Management by 2.7% in the third quarter. Bleakley Financial Group LLC now owns 19,482 shares of the financial services provider’s stock worth $2,434,000 after acquiring an additional 506 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Apollo Global Management by 57.5% in the third quarter. V Square Quantitative Management LLC now owns 1,961 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 716 shares during the period. Finally, Claro Advisors LLC boosted its holdings in shares of Apollo Global Management by 177.7% in the third quarter. Claro Advisors LLC now owns 4,912 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 3,143 shares during the period. 77.06% of the stock is owned by institutional investors.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,600 shares of company stock worth $34,977,528. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Up 3.2 %

APO opened at $162.95 on Friday. The company has a market cap of $92.20 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.28 and a beta of 1.63. The business’s 50-day moving average price is $167.64 and its 200-day moving average price is $145.96. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. TD Cowen lifted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler lifted 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. Evercore ISI lifted their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Company 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.