Western Financial Corp CA Sells 357 Shares of Apollo Global Management Inc. (NYSE:APO)

Western Financial Corp CA reduced its stake in Apollo Global Management Inc. (NYSE:APO) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,382 shares of the financial services provider’s stock after selling 357 shares during the quarter. Apollo Global Management makes up approximately 1.1% of Western Financial Corp CA’s investment portfolio, making the stock its 19th biggest position. Western Financial Corp CA’s holdings in Apollo Global Management were worth $1,969,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Ellevest Inc. raised its holdings in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 67 shares during the period. SRS Capital Advisors Inc. increased its stake in Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock worth $447,000 after buying an additional 71 shares in the last quarter. Vivaldi Capital Management LP increased its stake in Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after buying an additional 71 shares in the last quarter. Tower Wealth Partners Inc. increased its stake in Apollo Global Management by 4.4% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock worth $288,000 after buying an additional 74 shares in the last quarter. Finally, Colonial Trust Co SC increased its stake in Apollo Global Management by 29.2% in the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider’s stock worth $58,000 after buying an additional 79 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

APO has been the subject of a number of analyst reports. UBS Group cut their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Raymond James Financial initiated coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price target for the company. Piper Sandler cut their price target on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Bank of America increased their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.00.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the company’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.20% of the company’s stock.

Apollo Global Management Trading Down 1.6%

APO opened at $137.66 on Thursday. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a 50-day moving average of $133.97 and a 200 day moving average of $146.55. The firm has a market cap of $78.67 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.44 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $977.14 million. During the same quarter last year, the firm earned $1.72 EPS. The firm’s quarterly revenue was down 21.2% on a year-over-year basis. As a group, research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 35.73%.

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.