Miracle Mile Advisors LLC Has $2.44 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Miracle Mile Advisors LLC raised its holdings in Apollo Global Management, Inc. (NYSE:APO) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,786 shares of the financial services provider’s stock after buying an additional 2,685 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Apollo Global Management were worth $2,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APO. Partners Group Holding AG raised its position in Apollo Global Management by 26.5% in the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after purchasing an additional 162,678 shares in the last quarter. Swedbank AB raised its holdings in shares of Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after buying an additional 26,300 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Apollo Global Management by 34.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after buying an additional 4,941 shares during the period. Geode Capital Management LLC boosted its stake in Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after buying an additional 254,268 shares in the last quarter. Finally, Swiss National Bank grew its position in Apollo Global Management by 0.4% in the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after acquiring an additional 4,600 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $154.75 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 1-year low of $94.19 and a 1-year high of $189.49. The stock has a market capitalization of $87.56 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.84 and a beta of 1.63. The business has a 50-day moving average price of $168.74 and a two-hundred day moving average price of $138.69.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s payout ratio is 19.33%.

Analyst Ratings Changes

A number of brokerages have issued reports on APO. Evercore ISI lifted their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, TD Cowen increased their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,600 shares of company stock worth $34,186,128 over the last ninety days. Company insiders own 8.50% of the company’s stock.

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.