Miracle Mile Advisors LLC Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Miracle Mile Advisors LLC boosted its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,290 shares of the financial services provider’s stock after purchasing an additional 310 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Apollo Global Management were worth $932,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Apollo Global Management during the 4th quarter valued at about $586,016,000. TD Asset Management Inc lifted its stake in shares of Apollo Global Management by 4,248.9% in the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after purchasing an additional 2,402,686 shares during the period. Third Point LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $83,871,000. Vanguard Group Inc. lifted its stake in shares of 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, Los Angeles Capital Management LLC lifted its stake in shares of Apollo Global Management by 112.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock worth $117,558,000 after purchasing an additional 552,893 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of APO stock traded up $0.67 on Monday, reaching $118.74. The company’s stock had a trading volume of 2,809,827 shares, compared to its average volume of 2,435,952. The stock’s fifty day simple moving average is $114.34 and its 200-day simple moving average is $108.09. Apollo Global Management, Inc. has a 1 year low of $73.77 and a 1 year high of $119.69. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $67.46 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.21). The firm had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. Analysts forecast that Apollo Global Management, Inc. will post 7.14 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.56%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, May 16th. Apollo Global Management’s payout ratio is presently 20.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on APO shares. Jefferies Financial Group lowered their price objective on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Barclays decreased their target price on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. BMO Capital Markets raised their target price on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $115.62.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.