Maryland State Retirement & Pension System Sells 1,762 Shares of Apollo Global Management, Inc. (NYSE:APO)

Maryland State Retirement & Pension System cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,113 shares of the financial services provider's stock after selling 1,762 shares during the quarter. Maryland State Retirement & Pension System's holdings in Apollo Global Management were worth $4,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at $34,000. Byrne Asset Management LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at $37,000. Retirement Wealth Solutions LLC acquired a new position in shares of Apollo Global Management in the fourth quarter worth $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Apollo Global Management during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

NYSE:APO traded up $5.18 during trading hours on Monday, hitting $148.59. 3,156,101 shares of the company traded hands, compared to its average volume of 3,378,555. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The firm has a 50-day moving average of $154.31 and a 200 day moving average of $152.32. The stock has a market capitalization of $84.77 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.17 and a beta of 1.66.

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Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is currently 25.31%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now directly owns 377,164 shares of the company's stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on APO shares. Morgan Stanley upped their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Piper Sandler raised their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Barclays boosted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Tuesday, December 10th. One equities research 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 data from MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.21.

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.