Bank of Nova Scotia bought a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 92,516 shares of the financial services provider's stock, valued at approximately $10,948,000.
Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management during the fourth quarter worth $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the 1st quarter worth about $29,000. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Apollo Global Management by 484.1% during the 1st 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 period. Keating Financial Advisory Services Inc. bought a new position in Apollo Global Management during the 2nd quarter valued at about $31,000. Finally, Osbon Capital Management LLC bought a new position in Apollo Global Management during the 4th quarter valued at about $36,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Apollo Global Management
In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company's stock, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John P. Zito sold 48,644 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company's stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 8.30% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on APO shares. 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 research note on Tuesday, July 21st. TD Cowen reiterated a "buy" rating on shares of Apollo Global Management in a report on Thursday, August 6th. Weiss Ratings raised Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. Finally, UBS Group raised their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. One equities 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $152.77.
Read Our Latest Research Report on Apollo Global Management
Apollo Global Management Stock Up 0.0%
Shares of NYSE APO opened at $132.72 on Tuesday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The stock's fifty day simple moving average is $126.57 and its two-hundred day simple moving average is $122.72. The stock has a market capitalization of $78.38 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.
Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period in the previous year, the firm posted $1.92 earnings per share. As a group, analysts expect that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.
Apollo Global Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management's payout ratio is 82.42%.
About Apollo Global Management
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).
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