Purus Wealth Management LLC Purchases 520 Shares of Apollo Global Management Inc. $APO

Purus Wealth Management LLC raised its position in Apollo Global Management Inc. (NYSE:APO) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,429 shares of the financial services provider’s stock after purchasing an additional 520 shares during the period. Apollo Global Management makes up about 1.5% of Purus Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Purus Wealth Management LLC’s holdings in Apollo Global Management were worth $3,619,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of APO. Boston Partners bought a new stake in Apollo Global Management in the first quarter valued at approximately $370,543,000. Nuveen LLC acquired a new position in shares of Apollo Global Management in the first quarter valued at approximately $342,335,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after buying an additional 1,739,807 shares during the period. Northern Trust Corp boosted its holdings in shares of Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after buying an additional 1,460,689 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Apollo Global Management by 71.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider’s stock valued at $429,405,000 after buying an additional 1,082,825 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $134.0810 on Friday. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The firm has a fifty day simple moving average of $142.87 and a 200 day simple moving average of $139.70. The stock has a market capitalization of $76.70 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.46 and a beta of 1.62. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. Research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management’s dividend payout ratio is 38.13%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on APO shares. Piper Sandler reduced their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Barclays upped their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Cowen reiterated a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.28.

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.