PNC Financial Services Group Inc. Purchases 13,270 Shares of Apollo Global Management Inc. (NYSE:APO)

PNC Financial Services Group Inc. boosted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,731 shares of the financial services provider's stock after buying an additional 13,270 shares during the period. PNC Financial Services Group Inc.'s holdings in Apollo Global Management were worth $6,536,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at about $25,000. GW&K Investment Management LLC boosted its holdings in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC boosted its stake in Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management in the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. grew its stake in Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 172 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company lifted their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Evercore ISI increased their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday. TD Cowen dropped their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $161.26.

Apollo Global Management Stock Performance

Shares of APO stock opened at $146.13 on Thursday. Apollo Global Management Inc. has a 52 week low of $102.14 and a 52 week high of $189.49. The firm's 50-day simple moving average is $141.40 and its two-hundred day simple moving average is $141.96. The firm has a market cap of $83.51 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.64 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.23% and a net margin of 13.25%. The business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Apollo Global Management's dividend payout ratio is presently 35.73%.

About Apollo Global Management

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.

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