Prime Capital Investment Advisors LLC Purchases 4,121 Shares of Apollo Global Management, Inc. (NYSE:APO)

Prime Capital Investment Advisors LLC raised its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 38.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,706 shares of the financial services provider’s stock after acquiring an additional 4,121 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Apollo Global Management were worth $1,736,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. DSM Capital Partners LLC acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $33,000. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $35,000. Carolinas Wealth Consulting LLC acquired a new position in shares of Apollo Global Management during the 4th quarter valued at $38,000. Finally, J.Safra Asset Management Corp boosted its stake in Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 305 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $117.76 on Wednesday. The stock has a market cap of $66.91 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average price is $113.56 and its two-hundred day moving average price is $113.44. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.45.

Apollo Global Management (NYSE:APO) last posted 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 business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations 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 EPS. On average, equities analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio is 20.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. TD Cowen upped their price target on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Barclays reduced their price objective on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Redburn Atlantic started coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.06.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction that occurred on 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 acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.