Apollo Global Management Inc. $APO Stake Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 18.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,103 shares of the financial services provider’s stock after selling 12,409 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Apollo Global Management were worth $6,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC boosted its position in Apollo Global Management by 0.8% during 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 acquiring an additional 80 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Apollo Global Management by 16.9% during the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 82 shares during the period. United Advisor Group LLC boosted its holdings in shares of Apollo Global Management by 4.7% during the fourth 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 during the period. Broadway Wealth Solutions Inc. grew its position in Apollo Global Management by 3.8% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 87 shares in the last quarter. Finally, First Horizon Corp increased its stake in Apollo Global Management by 8.1% in the 4th quarter. First Horizon Corp now owns 1,228 shares of the financial services provider’s stock valued at $178,000 after buying an additional 92 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO opened at $122.53 on Monday. The company has a market capitalization of $70.64 billion, a PE ratio of 78.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The company’s fifty day moving average price is $126.18 and its 200 day moving average price is $123.96.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.62% and a return on equity of 14.43%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. As a group, analysts expect that Apollo Global Management Inc. will post 8.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.8%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Evercore reiterated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Apollo Global Management from a “sell” rating to a “strong sell” rating in a research report on Saturday. UBS Group increased their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, TD Cowen decreased their price objective on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.08.

Apollo Global Management Profile

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.