TrinityPoint Wealth LLC Trims Position in Apollo Global Management, Inc. (NYSE:APO)

TrinityPoint Wealth LLC lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 31.7% during the third quarter, Holdings Channel reports. The fund owned 2,020 shares of the financial services provider’s stock after selling 939 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Apollo Global Management were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Apollo Global Management in the second quarter valued at $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management in the 3rd quarter worth about $35,000. Massmutual Trust Co. FSB ADV grew its holdings in Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the period. Mather Group LLC. increased its stake in shares of Apollo Global Management by 826.9% during the 2nd quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 645 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 91 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APO shares. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Barclays upped their price objective on Apollo Global Management from $148.00 to $174.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Redburn Atlantic assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Morgan Stanley boosted their price target on 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. Finally, Keefe, Bruyette & Woods raised their price objective on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $150.83.

Apollo Global Management Price Performance

APO opened at $164.34 on Tuesday. Apollo Global Management, Inc. has a twelve month low of $86.21 and a twelve month high of $168.67. The firm has a market cap of $92.99 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.69 and a beta of 1.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $138.59 and a 200 day simple moving average of $123.09.

Apollo Global Management Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s payout ratio is presently 19.33%.

Apollo Global Management Company 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.