Western Pacific Wealth Management LP Sells 109 Shares of Apollo Global Management, Inc. (NYSE:APO)

Western Pacific Wealth Management LP trimmed its holdings in Apollo Global Management, Inc. (NYSE:APO) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807 shares of the financial services provider’s stock after selling 109 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Apollo Global Management were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Apollo Global Management in the 2nd quarter worth about $35,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Apollo Global Management during the third quarter valued at approximately $35,000. J.Safra Asset Management Corp increased its position in shares of 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 valued at $39,000 after acquiring an additional 305 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 346 shares in the last quarter. Finally, Orion Capital Management LLC lifted its position in Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 100 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APO has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Evercore ISI lifted their price objective on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays upped their target price on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday. Wolfe Research began coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price target for the company. Finally, Morgan Stanley increased 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 report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.83.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $159.88 on Friday. The firm’s 50 day simple moving average is $131.14 and its 200-day simple moving average is $120.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a one year low of $83.88 and a one year high of $166.72. The firm has a market cap of $91.06 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.16%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.72%.

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.