Moss Adams Wealth Advisors LLC Acquires 357 Shares of Apollo Global Management, Inc. (NYSE:APO)

Moss Adams Wealth Advisors LLC increased its stake in Apollo Global Management, Inc. (NYSE:APO) by 17.8% during the 3rd quarter, Holdings Channel reports. The firm owned 2,358 shares of the financial services provider’s stock after purchasing an additional 357 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Apollo Global Management were worth $295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Empowered Funds LLC increased its holdings in shares of Apollo Global Management by 193.3% in the 1st quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after buying an additional 33,731 shares during the last quarter. Diversified Trust Co bought a new position in Apollo Global Management in the first quarter valued at $1,731,000. Jennison Associates LLC raised its position in Apollo Global Management by 199.8% during the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after purchasing an additional 616,575 shares in the last quarter. PGGM Investments bought a new stake in Apollo Global Management during the first quarter worth about $840,000. Finally, Tempus Wealth Planning LLC purchased a new position in shares of Apollo Global Management in the 1st quarter worth about $877,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO stock opened at $145.01 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $146.82. The firm has a 50-day moving average of $120.81 and a 200 day moving average of $116.89. The company has a market cap of $82.39 billion, a P/E ratio of 16.06, a PEG ratio of 1.39 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $873.18 million. During the same period in the prior year, the company posted $1.54 EPS. On average, sell-side analysts forecast that Apollo Global Management, Inc. will post 6.66 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insider Buying and Selling

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APO. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Redburn Partners assumed coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Morgan Stanley upped their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price target on shares of Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen upped their price target on shares of Apollo Global Management from $135.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.06.

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.