Toronto Dominion Bank Decreases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Toronto Dominion Bank decreased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 41,234 shares of the financial services provider’s stock after selling 175 shares during the period. Toronto Dominion Bank’s holdings in Apollo Global Management were worth $4,868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in APO. US Bancorp DE grew its stake in shares of Apollo Global Management by 24.2% in the fourth quarter. US Bancorp DE now owns 8,263 shares of the financial services provider’s stock valued at $770,000 after buying an additional 1,608 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Apollo Global Management by 206.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 8,075 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 5,438 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Apollo Global Management by 6.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 14,919 shares of the financial services provider’s stock valued at $1,390,000 after purchasing an additional 877 shares during the period. Bank of Nova Scotia lifted its position in shares of Apollo Global Management by 237.1% during the fourth quarter. Bank of Nova Scotia now owns 14,831 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 10,431 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC purchased a new position in shares of Apollo Global Management in the fourth quarter valued at $38,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Barclays lowered their price objective on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus cut their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Finally, TD Cowen lifted their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.65.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

NYSE APO opened at $125.81 on Monday. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $126.93. The business’s fifty day moving average is $113.99 and its two-hundred day moving average is $114.28. The stock has a market capitalization of $71.48 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. During the same period last year, the firm earned $1.54 earnings per share. On average, research analysts forecast that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

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.