TD Asset Management Inc Sells 1,072,399 Shares of Apollo Global Management Inc. $APO

Key Points

• TD Asset Management Inc significantly reduced its stake in Apollo Global Management by selling 1,072,399 shares, resulting in a holding of 365,861 shares, or approximately 0.06% of the company.
• Various institutional investors have been active, with Y.D. More Investments Ltd increasing its stake by 14.4%, indicating continued interest in the stock despite TD's reduction.
• Apollo Global Management has received mixed ratings from analysts, with an average price target of $161.14 and a consensus rating of "Moderate Buy."

TD Asset Management Inc lowered its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 74.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 365,861 shares of the financial services provider's stock after selling 1,072,399 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Apollo Global Management worth $51,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Y.D. More Investments Ltd lifted its stake in shares of Apollo Global Management by 14.4% in the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock valued at $85,000 after acquiring an additional 78 shares during the last quarter. Walled Lake Planning & Wealth Management LLC increased its position in shares of Apollo Global Management by 3.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 80 shares during the period. GW&K Investment Management LLC increased its position in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the period. World Investment Advisors increased its position in shares of Apollo Global Management by 1.3% in the first quarter. World Investment Advisors now owns 7,089 shares of the financial services provider's stock valued at $971,000 after acquiring an additional 93 shares during the period. Finally, Arkadios Wealth Advisors increased its position in shares of Apollo Global Management by 0.9% in the first quarter. Arkadios Wealth Advisors now owns 10,896 shares of the financial services provider's stock valued at $1,492,000 after acquiring an additional 99 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on APO shares. Piper Sandler restated an "overweight" rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Barclays cut their price target on shares of Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, October 8th. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They issued a "market perform" rating and a $132.00 price target on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Apollo Global Management in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $161.14.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $127.76 on Thursday. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The company has a 50 day simple moving average of $135.09 and a two-hundred day simple moving average of $135.96. The company has a market capitalization of $73.08 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.46 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $1.64 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio is 38.13%.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is owned by insiders.

About Apollo Global Management

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.

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