Scotia Capital Inc. Acquires 729 Shares of Apollo Global Management, Inc. (NYSE:APO)

Scotia Capital Inc. grew its holdings in Apollo Global Management, Inc. (NYSE:APO) by 26.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,516 shares of the financial services provider’s stock after acquiring an additional 729 shares during the quarter. Scotia Capital Inc.’s holdings in Apollo Global Management were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in APO. Hopwood Financial Services Inc. bought a new stake in Apollo Global Management during the fourth quarter worth about $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $34,000. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management during the fourth quarter worth $39,000. Finally, HM Payson & Co. bought a new stake in Apollo Global Management during the fourth quarter worth $45,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $125.72 on Tuesday. The business has a 50-day simple moving average of $140.87 and a two-hundred day simple moving average of $153.65. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The stock has a market cap of $71.72 billion, a PE ratio of 17.20, a PEG ratio of 1.17 and a beta of 1.66. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.47%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APO. Citigroup decreased their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Bank of America lifted their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Morgan Stanley decreased their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday. TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods reduced their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, 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. 8.50% of the stock is owned by corporate 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.