Flputnam Investment Management Co. Sells 19,134 Shares of Apollo Global Management, Inc. (NYSE:APO)

Flputnam Investment Management Co. trimmed its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 6.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 286,180 shares of the financial services provider’s stock after selling 19,134 shares during the period. Apollo Global Management makes up about 0.9% of Flputnam Investment Management Co.’s holdings, making the stock its 19th largest holding. Flputnam Investment Management Co.’s holdings in Apollo Global Management were worth $47,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Partners Group Holding AG raised its position in Apollo Global Management by 26.5% during the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after acquiring an additional 162,678 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth about $3,994,000. Swedbank AB raised its holdings in shares of Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares during the period. Fortress Financial Solutions LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $685,000. Finally, Leavell Investment Management Inc. grew its holdings in Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 58,200 shares of the stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock worth $34,977,528 in the last 90 days. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $149.21 on Friday. 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 12-month low of $95.11 and a 12-month high of $189.49. The company’s 50 day moving average price is $163.39 and its two-hundred day moving average price is $149.05. The firm has a market cap of $84.42 billion, a PE ratio of 20.41, a PEG ratio of 1.17 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on APO shares. Barclays upped their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley raised their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management 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.