Park Place Capital Corp Has $1.02 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Park Place Capital Corp reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,161 shares of the financial services provider’s stock after selling 1,288 shares during the quarter. Park Place Capital Corp’s holdings in Apollo Global Management were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Partners Group Holding AG increased its stake in Apollo Global Management by 26.5% during the 3rd 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 during the period. Swedbank AB grew its holdings in shares of Apollo Global Management by 50.9% in the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after acquiring an additional 26,300 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after purchasing an additional 4,941 shares during the period. Geode Capital Management LLC boosted 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 valued at $713,230,000 after buying an additional 254,268 shares during the period. Finally, Swiss National Bank raised 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 purchasing an additional 4,600 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock worth $34,186,128. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on APO shares. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Citigroup increased their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. TD Cowen raised their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Wolfe Research started coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.32.

Apollo Global Management Price Performance

Shares of APO stock opened at $169.84 on Wednesday. The firm has a market cap of $96.10 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.34 and a beta of 1.63. 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 price of $169.30 and a 200 day moving average price of $140.65. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is presently 19.33%.

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.