Retirement Systems of Alabama Buys Shares of 96,778 Apollo Global Management, Inc. (NYSE:APO)

Retirement Systems of Alabama purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 96,778 shares of the financial services provider’s stock, valued at approximately $15,984,000.

Several other hedge funds have also made changes to their positions in APO. Sargent Investment Group LLC purchased a new stake in Apollo Global Management during the 4th quarter worth approximately $255,000. E. Ohman J or Asset Management AB increased its position in shares of Apollo Global Management by 8.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 17,850 shares of the financial services provider’s stock worth $2,948,000 after acquiring an additional 1,350 shares during the period. Longboard Asset Management LP purchased a new stake in shares of Apollo Global Management during the fourth quarter worth $237,000. Childress Capital Advisors LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at $249,000. Finally, Valley National Advisers Inc. boosted its holdings in Apollo Global Management by 1.4% in the fourth quarter. Valley National Advisers Inc. now owns 11,294 shares of the financial services provider’s stock valued at $1,865,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 133,400 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,600 shares of company stock worth $34,186,128. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. TD Cowen raised their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley increased their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler lifted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $164.76 on Friday. The stock has a market capitalization of $93.22 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.37 and a beta of 1.63. The firm’s fifty day simple moving average is $169.37 and its 200-day simple moving average is $144.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. 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 firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.12%. Apollo Global Management’s payout ratio is 19.33%.

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.