Bank of Nova Scotia Has $6 Million Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• The Bank of Nova Scotia reduced its holdings in Apollo Global Management Inc. by 22.4% in the 1st quarter, now owning 43,819 shares worth approximately $6 million.
• Wall Street analysts have generally positive outlooks on Apollo Global Management, with an average target price of $161.00 and 17 buy ratings among recent evaluations.
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, representing a 1.4% yield, with a payout ratio of 35.73%.

Bank of Nova Scotia reduced its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 22.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,819 shares of the financial services provider's stock after selling 12,633 shares during the quarter. Bank of Nova Scotia's holdings in Apollo Global Management were worth $6,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in Apollo Global Management during the 4th quarter worth about $25,000. GW&K Investment Management LLC raised its holdings in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC raised its holdings in Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in Apollo Global Management during the 1st quarter worth about $39,000. Finally, Meeder Asset Management Inc. raised its holdings in Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after purchasing an additional 172 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APO. Barclays upped their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup upped their price target on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. TD Cowen lowered their price target on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Piper Sandler lowered their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $161.00.

Apollo Global Management Stock Up 2.5%

NYSE:APO traded up $3.53 during trading hours on Tuesday, reaching $145.55. 5,431,124 shares of the stock were exchanged, compared to its average volume of 2,695,561. Apollo Global Management Inc. has a twelve month low of $101.45 and a twelve month high of $189.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50 day moving average of $141.10 and a 200 day moving average of $141.93. The stock has a market cap of $83.18 billion, a PE ratio of 25.49, a PEG ratio of 1.60 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period last year, the company earned $1.72 EPS. The company's revenue was down 21.2% compared to the same quarter last year. On average, equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Apollo Global Management's payout ratio is presently 35.73%.

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.