California Public Employees Retirement System raised its holdings in shares of Apollo Global Management LLC (NYSE:APO) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,633,181 shares of the financial services provider’s stock after acquiring an additional 20,280 shares during the quarter. Apollo Global Management makes up approximately 0.8% of California Public Employees Retirement System’s holdings, making the stock its 20th biggest position. California Public Employees Retirement System owned approximately 9.11% of Apollo Global Management worth $520,784,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of APO. Bank of New York Mellon Corp acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $240,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Apollo Global Management by 4,656.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 65,491 shares of the financial services provider’s stock valued at $1,732,000 after buying an additional 64,114 shares during the last quarter. WESPAC Advisors LLC boosted its holdings in shares of Apollo Global Management by 74.2% in the 2nd quarter. WESPAC Advisors LLC now owns 50,939 shares of the financial services provider’s stock valued at $1,347,000 after buying an additional 21,691 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Apollo Global Management by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 861,934 shares of the financial services provider’s stock valued at $22,798,000 after buying an additional 194,102 shares during the last quarter. Finally, Apriem Advisors acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $733,000. 72.57% of the stock is owned by institutional investors.
In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 43,714 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of $29.18 per share, with a total value of $1,275,574.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.11% of the company’s stock.
Several research firms have recently commented on APO. Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Monday, November 6th. Jefferies Group increased their price objective on Apollo Global Management from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group increased their price objective on Apollo Global Management from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Wells Fargo & Company reissued an “outperform” rating and issued a $39.00 price objective (up previously from $34.00) on shares of Apollo Global Management in a report on Thursday, November 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Apollo Global Management in a report on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $33.38.
Shares of Apollo Global Management LLC (APO) opened at $31.90 on Monday. Apollo Global Management LLC has a twelve month low of $18.90 and a twelve month high of $33.37. The stock has a market capitalization of $6,173.93, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.22. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.51. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The business had revenue of $645.20 million during the quarter, compared to the consensus estimate of $467.72 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 31.1% on a year-over-year basis. equities research analysts expect that Apollo Global Management LLC will post 2.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Monday, November 20th. Apollo Global Management’s dividend payout ratio is 50.98%.
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Apollo Global Management Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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