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

Key Points

• PNC Financial Services increased its stake in Apollo Global Management by 13.4% in the fourth quarter, adding 8,003 shares to bring its total holdings to 67,512 shares worth about $9.77 million.
• Several analysts recently trimmed price targets on APO, but the stock still carries a Moderate Buy consensus rating with an average target price of $150.38.
• Apollo beat first-quarter earnings expectations with $1.94 EPS versus the $1.89 estimate and raised its quarterly dividend to $0.5625 per share, boosting the annualized payout to $2.25.

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APO. Atlantic Union Bankshares Corp grew its holdings in Apollo Global Management by 99.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $29,000. Physician Wealth Advisors Inc. lifted its position in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 96 shares during the period. City Holding Co. lifted its position in shares of Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 243 shares during the period. Finally, Center for Financial Planning Inc. bought a new stake in shares of Apollo Global Management during the 3rd quarter valued at $50,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APO shares. TD Cowen cut their target price on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Piper Sandler cut their target price on Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Weiss Ratings downgraded Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Wall Street Zen downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, BMO Capital Markets cut their target price on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating for the company in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and an average target price of $150.38.

Apollo Global Management Price Performance

Shares of APO stock opened at $128.50 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $157.28. The company has a market cap of $74.08 billion, a P/E ratio of 81.85, a P/E/G ratio of 1.08 and a beta of 1.52. The business has a fifty day simple moving average of $118.81 and a 200 day simple moving average of $127.96.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm's revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 8.29 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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

Apollo Global Management Company 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.

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