9,794 Apollo Global Management Inc. $APO Shares Bought by B. Riley Wealth Advisors Inc.

Key Points

• B. Riley Wealth Advisors increased its Apollo Global Management stake by 148.1% in the third quarter, purchasing 9,794 shares and bringing its holdings to 16,408 shares valued at approximately $1.9 million.
• Institutional investors and hedge funds own 77.06% of Apollo’s outstanding shares. Recent notable buyers include Temasek Holdings, UBS Asset Management, Dimensional Fund Advisors, Legal & General, and Bank of New York Mellon.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $152.60 target price, although Apollo recently missed quarterly earnings and revenue estimates. The company also pays a $0.5625 quarterly dividend, equivalent to a 2.0% annual yield.

B. Riley Wealth Advisors Inc. increased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 148.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,408 shares of the financial services provider's stock after acquiring an additional 9,794 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Apollo Global Management were worth $1,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apollo Global Management by 4.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock worth $669,372,000 after acquiring an additional 234,517 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Apollo Global Management during the second quarter valued at $459,987,000. Bank of New York Mellon Corp acquired a new position in shares of Apollo Global Management during the second quarter worth $336,644,000. Temasek Holdings Private Ltd lifted its holdings in shares of Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Apollo Global Management by 15.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,976,083 shares of the financial services provider's stock worth $220,149,000 after purchasing an additional 266,732 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

APO has been the subject of a number of recent research reports. TD Cowen decreased their price objective on Apollo Global Management from $159.00 to $154.00 and set a "buy" rating for the company in a report on Monday. Piper Sandler raised their target price on Apollo Global Management from $156.00 to $159.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Bank of America cut their target price on Apollo Global Management from $163.00 to $161.00 in a report on Monday, October 5th. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $152.60.

Apollo Global Management Trading Down 2.4%

APO opened at $113.44 on Thursday. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $127.41 and a 200-day moving average of $125.19. The stock has a market cap of $66.99 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the business earned $1.92 EPS. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8.00 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 2.0%. Apollo Global Management's dividend payout ratio (DPR) is 82.42%.

Apollo Global Management Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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