Miracle Mile Advisors LLC Buys 3,423 Shares of Apollo Global Management, Inc. (NYSE:APO)

Miracle Mile Advisors LLC lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 39.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,101 shares of the financial services provider’s stock after acquiring an additional 3,423 shares during the period. Miracle Mile Advisors LLC’s holdings in Apollo Global Management were worth $1,512,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Curated Wealth Partners LLC raised its position in Apollo Global Management by 200.3% in 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 purchasing an additional 4,717,661 shares during the period. Capital Research Global Investors raised its position in Apollo Global Management by 40.3% in the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after purchasing an additional 1,360,525 shares during the period. Third Point LLC purchased a new position in Apollo Global Management in the 4th quarter worth $83,871,000. Vanguard Group Inc. raised its position in Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Apollo Global Management by 199.8% in the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after acquiring an additional 616,575 shares during the period. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APO. TD Cowen boosted their price objective on shares of Apollo Global Management from $135.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Redburn Partners began coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. UBS Group boosted their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.89.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $134.21 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day moving average price of $115.07 and a 200 day moving average price of $115.13. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $136.26. The firm has a market cap of $76.25 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.30 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same quarter in the prior year, the company posted $1.54 EPS. As a group, sell-side analysts expect that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.38%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Apollo Global Management Company 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.