Bank of Nova Scotia Buys 37,148 Shares of Apollo Global Management, Inc. (NYSE:APO)

Bank of Nova Scotia lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 192.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 56,452 shares of the financial services provider’s stock after acquiring an additional 37,148 shares during the period. Bank of Nova Scotia’s holdings in Apollo Global Management were worth $9,324,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. EP Wealth Advisors LLC boosted its holdings in shares of Apollo Global Management by 61.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 5,456 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 2,081 shares in the last quarter. National Bank of Canada FI boosted its stake in Apollo Global Management by 11.9% in the third quarter. National Bank of Canada FI now owns 9,089 shares of the financial services provider’s stock worth $1,135,000 after buying an additional 970 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Apollo Global Management by 3.1% during the third quarter. Orion Portfolio Solutions LLC now owns 12,791 shares of the financial services provider’s stock valued at $1,598,000 after acquiring an additional 388 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Apollo Global Management by 23.3% during the third quarter. MML Investors Services LLC now owns 14,629 shares of the financial services provider’s stock worth $1,827,000 after acquiring an additional 2,767 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider now directly owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APO. Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday. BMO Capital Markets raised their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Citigroup reduced their price target on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barclays lowered their price objective on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $157.95.

Apollo Global Management Stock Performance

Shares of APO stock opened at $123.99 on Friday. The company’s fifty day moving average price is $142.41 and its 200-day moving average price is $153.44. The stock has a market cap of $70.73 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.