Apollo Global Management, Inc. (NYSE:APO) is Western Financial Corp CA’s 10th Largest Position

Western Financial Corp CA reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 9.8% during the 4th quarter, HoldingsChannel reports. The fund owned 14,739 shares of the financial services provider’s stock after selling 1,605 shares during the period. Apollo Global Management accounts for 1.3% of Western Financial Corp CA’s portfolio, making the stock its 10th largest position. Western Financial Corp CA’s holdings in Apollo Global Management were worth $2,434,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its stake in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after buying an additional 4,892 shares during the period. Swiss National Bank lifted its position in Apollo Global Management by 0.4% during the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares in the last quarter. Finally, Fort Pitt Capital Group LLC grew its stake in Apollo Global Management by 10.5% during the third quarter. Fort Pitt Capital Group LLC now owns 1,100,686 shares of the financial services provider’s stock worth $137,487,000 after buying an additional 104,668 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Evercore ISI boosted their price objective on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Barclays increased their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.32.

Apollo Global Management Trading Down 0.4 %

Shares of NYSE APO opened at $171.00 on Friday. The stock has a market capitalization of $96.75 billion, a P/E ratio of 17.87, a PEG ratio of 1.37 and a beta of 1.63. The stock’s 50 day moving average price is $170.11 and its two-hundred day moving average price is $143.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.463 per share. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.08%. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock valued at $34,186,128 over the last 90 days. 8.50% of the stock is owned by company insiders.

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.