PNC Financial Services Group Inc. Sells 12,409 Shares of Apollo Global Management Inc. $APO

PNC Financial Services Group Inc. lessened its position in shares of Apollo Global Management Inc. (NYSE:APO) by 18.4% during the 1st quarter, according to its most recent 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.

A number of other large investors have also modified their holdings of APO. Legal & General Group Plc raised its position in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $1,599,000. Asset Management One Co. Ltd. grew its stake in shares of Apollo Global Management by 6.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock valued at $27,936,000 after purchasing an additional 10,876 shares during the period. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after buying an additional 340,956 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Apollo Global Management by 16.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider’s stock worth $14,319,000 after buying an additional 13,625 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. UBS Group boosted their price target on Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. BMO Capital Markets reduced their target price 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. Finally, HSBC initiated coverage on shares of Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.08.

Apollo Global Management Stock Down 0.1%

NYSE APO opened at $122.53 on Monday. The stock’s 50 day simple moving average is $126.18 and its 200 day simple moving average is $123.96. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The firm has a market cap 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 (NYSE:APO) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

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.