PNC Financial Services Group Inc. Has $9.77 Million Position in Apollo Global Management Inc. $APO

PNC Financial Services Group Inc. boosted its position in Apollo Global Management Inc. (NYSE:APO) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,512 shares of the financial services provider’s stock after purchasing an additional 8,003 shares during the period. PNC Financial Services Group Inc.’s holdings in Apollo Global Management were worth $9,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Chesapeake Asset Management LLC increased its holdings in Apollo Global Management by 3.6% in the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 72 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Apollo Global Management by 1.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 78 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in Apollo Global Management by 0.8% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 80 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Apollo Global Management by 16.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 82 shares in the last quarter. Finally, United Advisor Group LLC increased its holdings in Apollo Global Management by 4.7% in the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler lowered their target price on Apollo Global Management from $165.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. BMO Capital Markets lowered their target price on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a report on Tuesday, March 24th. Barclays upped their target price on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. TD Cowen decreased their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Apollo Global Management Trading Down 1.8%

Shares of APO stock opened at $128.50 on Friday. The stock has a market cap of $74.08 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 1.08 and a beta of 1.52. The stock has a 50-day moving average of $118.81 and a 200-day moving average of $127.96. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 earnings per share. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8.29 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Apollo Global Management’s payout ratio is 143.31%.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.