Bank of Nova Scotia Has $10.48 Million Stake in Apollo Global Management Inc. $APO

Bank of Nova Scotia lessened its holdings in Apollo Global Management Inc. (NYSE:APO) by 22.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,083 shares of the financial services provider’s stock after selling 27,219 shares during the period. Bank of Nova Scotia’s holdings in Apollo Global Management were worth $10,483,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $29,000. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management in the first quarter worth $29,000. Steigerwald Gordon & Koch Inc. boosted its position in Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Osbon Capital Management LLC bought a new position in Apollo Global Management in the 4th quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Down 0.1%

Shares of NYSE:APO opened at $122.53 on Monday. The firm has a fifty day moving average price of $126.18 and a two-hundred day moving average price of $123.96. The company has a market cap of $70.64 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 1.07 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts anticipate that Apollo Global Management Inc. will post 8.19 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.5625 per share. The ex-dividend date was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.8%. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APO. HSBC assumed coverage on Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 target price on the stock. Morgan Stanley decreased their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. UBS Group lifted their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen cut shares of Apollo Global Management from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, BMO Capital Markets reduced their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.08.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Company Profile

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.