National Bank of Canada FI Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

National Bank of Canada FI raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,089 shares of the financial services provider’s stock after purchasing an additional 970 shares during the period. National Bank of Canada FI’s holdings in Apollo Global Management were worth $1,135,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA purchased a new position in shares of Apollo Global Management in the 3rd quarter worth $35,000. Cullen Frost Bankers Inc. acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at about $35,000. Prospera Private Wealth LLC purchased a new stake in shares of Apollo Global Management during the 3rd quarter worth about $80,000. Truvestments Capital LLC acquired a new stake in Apollo Global Management during the 3rd quarter worth approximately $83,000. Finally, Allworth Financial LP raised its holdings in Apollo Global Management by 14.3% in the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. BMO Capital Markets increased their price target on Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Evercore ISI boosted their price objective on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays raised their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Argus decreased their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.89.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $176.43 on Friday. The business has a 50 day simple moving average of $157.91 and a 200-day simple moving average of $131.00. Apollo Global Management, Inc. has a twelve month low of $89.76 and a twelve month high of $189.49. The company has a market capitalization of $99.83 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is 19.33%.

Apollo Global Management Company 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.