Pure Financial Advisors LLC Acquires New Position in Apollo Global Management Inc. $APO

Pure Financial Advisors LLC purchased a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,954 shares of the financial services provider’s stock, valued at approximately $823,000.

A number of other institutional investors have also made changes to their positions in APO. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management during the 4th quarter worth approximately $29,000. Osbon Capital Management LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $36,000. Steigerwald Gordon & Koch Inc. increased its position in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. MBM Wealth Consultants LLC acquired a new stake in shares of Apollo Global Management during the first quarter worth $29,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Apollo Global Management in the 2nd quarter valued at $31,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. HSBC began coverage on Apollo Global Management in a report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective for the company. BMO Capital Markets cut their target price on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Piper Sandler reduced their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Apollo Global Management Stock Up 0.3%

Shares of APO stock opened at $133.64 on Thursday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The stock has a market cap of $78.92 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 1.20 and a beta of 1.51. The firm’s 50-day moving average is $126.36 and its 200-day moving average is $122.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70.

Apollo Global Management (NYSE:APO) last announced its quarterly 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). The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period last year, the firm earned $1.92 EPS. Sell-side analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is presently 82.42%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.30% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.