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

Toronto Dominion Bank trimmed its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of APO. Cullen Frost Bankers Inc. purchased a new position in shares of Apollo Global Management during the second quarter worth about $35,000. J.Safra Asset Management Corp grew its stake in Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares during the last quarter. True Wealth Design LLC acquired a new position in Apollo Global Management during the fourth quarter worth approximately $33,000. Riverview Trust Co purchased a new stake in Apollo Global Management in the first quarter valued at approximately $45,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $38,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on APO. UBS Group upped their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. TD Cowen increased their target price 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. Wells Fargo & Company initiated coverage on Apollo Global Management in a research report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price target on the stock. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. Finally, StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $129.65.

Apollo Global Management Stock Up 0.2 %

Apollo Global Management stock opened at $125.81 on Monday. The firm has a market capitalization of $71.48 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth 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, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $126.93. The stock’s fifty day moving average is $113.99 and its two-hundred day moving average is $114.28.

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

Apollo Global Management Cuts Dividend

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

Apollo Global Management Profile

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.