Platform Technology Partners Sells 5,826 Shares of Apollo Global Management, Inc. (NYSE:APO)

Platform Technology Partners cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,978 shares of the financial services provider’s stock after selling 5,826 shares during the period. Apollo Global Management comprises approximately 3.1% of Platform Technology Partners’ holdings, making the stock its 4th largest holding. Platform Technology Partners’ holdings in Apollo Global Management were worth $10,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at $39,000. UMB Bank n.a. lifted its holdings in Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Apollo Global Management in the third quarter valued at about $35,000. Versant Capital Management Inc grew its stake in Apollo Global Management by 203.6% during the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after buying an additional 336 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $89,000. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,600 shares of company stock worth $34,186,128. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $163.39 on Friday. 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 stock has a market cap of $92.45 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.63. The stock’s 50-day moving average price is $169.13 and its two-hundred day moving average price is $144.66. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore ISI increased their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods decreased their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. BMO Capital Markets raised their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.00.

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.