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

Miracle Mile Advisors LLC grew its position in Apollo Global Management, Inc. (NYSE:APO) by 39.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,101 shares of the financial services provider’s stock after buying an additional 3,423 shares during the period. Miracle Mile Advisors LLC’s holdings in Apollo Global Management were worth $1,512,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management in the 2nd quarter worth approximately $35,000. J.Safra Asset Management Corp boosted its stake in Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. Riverview Trust Co acquired a new stake in Apollo Global Management in the 1st quarter worth approximately $45,000. Finally, Compass Wealth Management LLC boosted its stake in Apollo Global Management by 48.7% in the 1st quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 146 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APO shares. Redburn Partners assumed coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Argus decreased their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. UBS Group lifted 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 note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted 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 note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $135.89.

Insiders Place Their Bets

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased 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 owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $134.21 on Tuesday. The firm has a market capitalization of $76.25 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.30 and a beta of 1.62. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $136.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $115.07 and its two-hundred day moving average is $115.13.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period in the previous year, the company posted $1.54 earnings per share. Research analysts forecast that Apollo Global Management, Inc. will post 6.62 EPS 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 $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

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.