Louisiana State Employees Retirement System Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

Louisiana State Employees Retirement System bought a new position in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 24,000 shares of the financial services provider’s stock, valued at approximately $3,964,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Apollo Global Management in the third quarter worth approximately $543,000. Exchange Traded Concepts LLC grew its position in shares of Apollo Global Management by 140.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,725 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 6,259 shares in the last quarter. Creative Planning grew its position in shares of Apollo Global Management by 5.9% during the 3rd quarter. Creative Planning now owns 41,784 shares of the financial services provider’s stock worth $5,219,000 after buying an additional 2,316 shares in the last quarter. Swedbank AB grew its holdings in Apollo Global Management by 50.9% during the 3rd 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 in the last quarter. Finally, nVerses Capital LLC bought a new position in Apollo Global Management during the 3rd quarter worth about $974,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APO has been the topic of several recent research reports. TD Cowen increased their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler upped their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Evercore ISI lifted their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets upped their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley lifted their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.74.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock worth $34,186,128 over the last three months. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Trading Down 0.4 %

NYSE APO opened at $157.46 on Thursday. The stock has a market cap of $89.09 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.28 and a beta of 1.63. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $168.28 and a two-hundred day simple moving average of $145.59. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Apollo Global Management 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.