Apollo Global Management, Inc. (NYSE:APO) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 15,552 shares of the financial services provider’s stock after buying an additional 766 shares during the period. Miracle Mile Advisors LLC’s holdings in Apollo Global Management were worth $2,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ellevest Inc. raised its stake in Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 67 shares during the period. SRS Capital Advisors Inc. raised its stake in Apollo Global Management by 2.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 71 shares during the period. Vivaldi Capital Management LP raised its stake in Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 71 shares during the period. Tower Wealth Partners Inc. raised its stake in Apollo Global Management by 4.4% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 74 shares during the period. Finally, Colonial Trust Co SC increased its stake in shares of Apollo Global Management by 29.2% in the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

NYSE APO opened at $133.45 on Monday. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $76.27 billion, a PE ratio of 18.26, a P/E/G ratio of 1.17 and a beta of 1.59. The company’s 50 day simple moving average is $130.66 and its 200 day simple moving average is $149.70.

Apollo Global Management (NYSE:APO) last issued its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 earnings per share. As a group, equities research analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.53%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 35.73%.

Analysts Set New Price Targets

Several equities research analysts have commented on APO shares. Citigroup dropped their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Bank of America raised their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Raymond James started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Finally, Morgan Stanley dropped their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

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.