State of New Jersey Common Pension Fund D Reduces Stock Position in Apollo Global Management, Inc. (NYSE:APO)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,926 shares of the financial services provider’s stock after selling 152 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Apollo Global Management were worth $18,477,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Curated Wealth Partners LLC grew its stake in Apollo Global Management by 200.3% during the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after buying an additional 4,717,661 shares during the last quarter. Capital Research Global Investors raised its stake in Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Apollo Global Management during the 2nd quarter worth $62,972,000. 1832 Asset Management L.P. raised its stake in shares of Apollo Global Management by 66.0% during the first quarter. 1832 Asset Management L.P. now owns 1,257,460 shares of the financial services provider’s stock valued at $141,401,000 after purchasing an additional 499,930 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Apollo Global Management by 74.5% during the second quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock valued at $112,836,000 after purchasing an additional 408,105 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Up 1.4 %

Shares of APO stock traded up $2.18 on Friday, reaching $162.00. 3,093,000 shares of the company’s stock traded hands, compared to its average volume of 2,987,981. The business’s 50 day moving average price is $132.07 and its two-hundred day moving average price is $120.75. The company has a market capitalization of $92.26 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a 12-month low of $83.88 and a 12-month high of $166.72.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their target price on Apollo Global Management from $117.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Redburn Atlantic assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. The Goldman Sachs Group lifted their price target on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen upped their price objective on Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.83.

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.