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

New York State Teachers Retirement System bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 306,377 shares of the financial services provider’s stock, valued at approximately $50,601,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chicago Capital LLC grew its holdings in shares of Apollo Global Management by 1.2% during the 3rd quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock worth $709,000 after acquiring an additional 69 shares during the period. Menard Financial Group LLC boosted its position in shares of Apollo Global Management by 1.2% in the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 71 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its position in shares of Apollo Global Management by 3.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 77 shares in the last quarter. Sfmg LLC boosted its position in shares of Apollo Global Management by 1.1% in the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 79 shares in the last quarter. Finally, Cigna Investments Inc. New boosted its position in shares of Apollo Global Management by 1.8% in the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of a number of analyst reports. UBS Group raised Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Cowen upped their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the firm’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 of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,977,528 over the last ninety days. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

NYSE:APO opened at $162.95 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $167.64 and its two-hundred day simple moving average is $145.96. The stock has a market cap of $92.20 billion, a PE ratio of 22.29, a P/E/G ratio of 1.28 and a beta of 1.63. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. Apollo Global Management’s dividend payout ratio is presently 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.