State of Michigan Retirement System Purchases Shares of 121,300 Apollo Global Management, Inc. (NYSE:APO)

State of Michigan Retirement System purchased a new position in Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 121,300 shares of the financial services provider’s stock, valued at approximately $20,034,000.

Several other hedge funds and other institutional investors have also made changes to their positions in APO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $39,000. UMB Bank n.a. boosted its position in shares of Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 228 shares during the last quarter. Finally, WR Wealth Planners LLC grew its holdings in shares of Apollo Global Management by 25.3% in the fourth quarter. WR Wealth Planners LLC now owns 455 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 4.7 %

Shares of APO opened at $137.76 on Wednesday. The firm has a market capitalization of $78.59 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.17 and a beta of 1.63. 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 1-year low of $95.11 and a 1-year high of $189.49. The company has a 50-day moving average of $162.11 and a 200 day moving average of $150.09.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.34%. Apollo Global Management’s payout ratio is 25.31%.

Analyst Ratings Changes

APO has been the topic of a number of recent research reports. Barclays upped their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. BMO Capital Markets lifted their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods decreased their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup lifted their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by insiders.

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.