Purus Wealth Management LLC Has $3.07 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Purus Wealth Management LLC raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,005 shares of the financial services provider’s stock after buying an additional 3,551 shares during the period. Apollo Global Management accounts for approximately 1.4% of Purus Wealth Management LLC’s portfolio, making the stock its 18th biggest holding. Purus Wealth Management LLC’s holdings in Apollo Global Management were worth $3,070,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of APO. DSM Capital Partners LLC bought a new position in Apollo Global Management during the fourth quarter valued at about $31,000. True Wealth Design LLC bought a new position in Apollo Global Management during the fourth quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management during the second quarter valued at approximately $35,000. Carolinas Wealth Consulting LLC acquired a new stake in Apollo Global Management during the fourth quarter valued at approximately $38,000. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Apollo Global Management by 709.3% in the 1st 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.

Insider Buying and Selling at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were purchased 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 of the company’s stock, valued at approximately $9,007,801.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on APO shares. Wells Fargo & Company started coverage on Apollo Global Management in a research report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price objective on the stock. Redburn Partners started coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Redburn Atlantic started coverage on Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. Finally, Argus cut their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $117.76 on Wednesday. The company has a market capitalization of $66.91 billion, a PE ratio of 13.04, a PEG ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.45. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $113.56 and its 200 day simple moving average is $113.44.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $1.54 EPS. On average, research analysts predict that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend 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%.

Apollo Global Management 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.