Western Pacific Wealth Management LP Decreases Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Western Pacific Wealth Management LP lowered its stake in Apollo Global Management, Inc. (NYSE:APO) by 11.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 807 shares of the financial services provider’s stock after selling 109 shares during the period. 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted 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 valued at $5,755,000 after buying an additional 33,731 shares during the period. PGGM Investments acquired a new stake in shares of Apollo Global Management during the 1st quarter valued at about $840,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Apollo Global Management by 38.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 34,709 shares of the financial services provider’s stock valued at $3,903,000 after purchasing an additional 9,708 shares in the last quarter. Mackenzie Financial Corp boosted its position in Apollo Global Management by 4.5% during the second quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock worth $21,119,000 after purchasing an additional 7,679 shares in the last quarter. Finally, Forsta AP Fonden increased its position in shares of Apollo Global Management by 8.4% in the third quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider’s stock valued at $17,937,000 after buying an additional 11,100 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $159.88 on Friday. The stock’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. The firm has a market capitalization 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, Inc. has a fifty-two week low of $83.88 and a fifty-two week high of $166.72.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.72%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Argus reduced their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. TD Cowen lifted their price objective on Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays boosted their price objective on Apollo Global Management from $148.00 to $174.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their target price on Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.83.

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.