B. Riley Wealth Advisors Inc. Buys 14,812 Shares of Apollo Global Management, Inc. (NYSE:APO)

B. Riley Wealth Advisors Inc. boosted its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 127.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 26,391 shares of the financial services provider’s stock after buying an additional 14,812 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Apollo Global Management were worth $3,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after purchasing an additional 750,781 shares during the period. Capital International Investors lifted its holdings in shares of Apollo Global Management by 2.1% during the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after acquiring an additional 218,566 shares during the period. Putnam Investments LLC lifted its holdings in shares of Apollo Global Management by 2.8% during the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after acquiring an additional 164,400 shares during the period. Capital Research Global Investors increased its stake in Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares during the period. Finally, Legal & General Group Plc raised its position in Apollo Global Management by 3.0% in the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after purchasing an additional 126,859 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APO. Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. UBS Group increased their price objective on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Redburn Atlantic initiated 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 on the stock. Finally, TD Cowen increased their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.65.

Apollo Global Management Stock Up 5.7 %

NYSE APO opened at $131.98 on Wednesday. The stock has a market capitalization of $74.99 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $133.05. 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 stock has a fifty day moving average of $114.15 and a 200-day moving average of $114.53.

Apollo Global Management (NYSE:APO) last announced 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 for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, equities research analysts forecast that Apollo Global Management, Inc. will post 6.62 EPS for the current 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 paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.40%. Apollo Global Management’s payout ratio is presently 20.49%.

Insiders Place Their Bets

In related news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

About Apollo Global Management

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.