Apollo Global Management, Inc. (NYSE:APO) Position Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 27,775 shares of the financial services provider’s stock after buying an additional 117 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Apollo Global Management were worth $2,588,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Blueprint LLC lifted its stake in Apollo Global Management by 42.4% in the fourth quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock valued at $4,341,000 after buying an additional 13,870 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Apollo Global Management by 287.5% in the fourth quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock valued at $28,683,000 after buying an additional 228,367 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Apollo Global Management by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock valued at $88,599,000 after buying an additional 50,008 shares during the last quarter. Nordea Investment Management AB lifted its stake in Apollo Global Management by 129.8% in the fourth quarter. Nordea Investment Management AB now owns 658,008 shares of the financial services provider’s stock valued at $61,497,000 after buying an additional 371,721 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Apollo Global Management by 49.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock valued at $4,900,000 after purchasing an additional 17,361 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Up 0.9 %

Shares of APO opened at $118.36 on Friday. Apollo Global Management, Inc. has a 1-year low of $72.44 and a 1-year high of $119.69. The stock has a market capitalization of $67.25 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.96 and a beta of 1.61. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $113.02 and its 200 day moving average price is $106.67.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $827.33 million. Analysts expect that Apollo Global Management, Inc. will post 7.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.56%. Apollo Global Management’s payout ratio is presently 20.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APO. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Wednesday. Evercore ISI lifted their price objective on shares of Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus price target of $115.62.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.