TD Asset Management Inc Decreases Stock Position in Apollo Global Management Inc. $APO

TD Asset Management Inc cut its position in Apollo Global Management Inc. (NYSE:APO) by 51.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,628 shares of the financial services provider’s stock after selling 187,233 shares during the period. TD Asset Management Inc’s holdings in Apollo Global Management were worth $23,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in APO. Schnieders Capital Management LLC. acquired a new stake in Apollo Global Management during the 2nd quarter worth $7,954,000. World Investment Advisors boosted its position in Apollo Global Management by 17.6% during the second quarter. World Investment Advisors now owns 8,339 shares of the financial services provider’s stock worth $1,183,000 after acquiring an additional 1,250 shares during the last quarter. Spire Wealth Management grew its stake in Apollo Global Management by 137.9% during the 2nd quarter. Spire Wealth Management now owns 2,978 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 1,726 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $312,000. Finally, Keybank National Association OH purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $242,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APO shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Tuesday, February 10th. Keefe, Bruyette & Woods lifted their price target on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. UBS Group lowered their price target on shares of Apollo Global Management from $182.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BMO Capital Markets set a $136.00 target price on shares of Apollo Global Management and gave the company a “market perform” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.27.

Apollo Global Management Stock Down 8.8%

Shares of APO opened at $104.31 on Friday. The company’s 50-day moving average price is $135.30 and its 200 day moving average price is $134.04. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $157.28. The company has a current ratio of 1.31, a quick ratio of 1.49 and a debt-to-equity ratio of 0.33. The firm has a market cap of $60.54 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Monday, February 9th. The financial services provider reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.43. Apollo Global Management had a net margin of 10.90% and a return on equity of 15.25%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 earnings per share. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 19th were given a $0.51 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $2.04 dividend on an annualized basis and a yield of 2.0%. Apollo Global Management’s payout ratio is presently 36.96%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 6,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $131.41, for a total transaction of $788,460.00. Following the completion of the transaction, the chief financial officer directly owned 325,604 shares in the company, valued at $42,787,621.64. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.20% of the stock is owned by company insiders.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.