Apollo Global Management Inc. (NYSE: APO) stock fell -2.23% on Friday to $52.66 against a previous-day closing price of $53.86. With 1.81 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.48 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $54.85 whereas the lowest price it dropped to was $52.66. The 52-week range on APO shows that it touched its highest point at $81.07 and its lowest point at $45.97 during that stretch. It currently has a 1-year price target of $69.92. With its current market cap of 31.43 billion, APO has annualized dividend of $1.70 while the current yield stands at 3.23%. Beta for the stock currently stands at 1.64.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APO was down-trending over the past week, with a drop of -8.29%, but this was down by -7.74% over a month. Three-month performance surged to 4.92% while six-month performance fell -18.58%. The stock lost -10.94% in the past year, while it has lost -27.30% so far this year. A look at the trailing 12-month EPS for APO yields -3.00 with Next year EPS estimates of 6.74. For the next quarter, that number is 1.32. This implies an EPS growth rate of 16.00% for this year and 27.41% for next year. EPS is expected to grow by 17.91% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 28.30%.
Float and Shares Shorts:
At present, 584.80 million APO shares are outstanding with a float of 328.82 million shares on hand for trading. On Jul 14, 2022, short shares totaled 19.28 million, which was 3.36% higher than short shares on Jun 14, 2022. In addition to Mr. Marc Jeffrey Rowan as the firm’s Co-Founder, CEO & Director, Mr. Scott M. Kleinman serves as its Co-Pres & Director.
Through their ownership of 54.29% of APO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.88% of APO, in contrast to 29.86% held by mutual funds. Shares owned by individuals account for 29.00%. As the largest shareholder in APO with 5.43% of the stake, Capital Research & Management Co holds 30,994,752 shares worth 30,994,752. A second-largest stockholder of APO, The Vanguard Group, Inc., holds 30,684,059 shares, controlling over 5.37% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in APO, holding 15,718,521 shares or 2.75% stake. With a 2.19% stake in APO, the American Funds Fundamental Invest is the largest stakeholder. A total of 12,515,772 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.64% of APO stock, is the second-largest Mutual Fund holder. It holds 9,374,025 shares valued at 521.01 million. Vanguard Mid Cap Index Fund holds 1.27% of the stake in APO, owning 7,248,429 shares worth 402.87 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APO since 15 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With APO analysts setting a high price target of $87.00 and a low target of $58.00, the average target price over the next 12 months is $69.92. Based on these targets, APO could surge 65.21% to reach the target high and rise by 10.14% to reach the target low. Reaching the average price target will result in a growth of 32.78% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. APO will report FY 2022 earnings on 02/02/2023. Analysts have provided yearly estimates in a range of $5.73 being high and $5.02 being low. For APO, this leads to a yearly average estimate of $5.30. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Apollo Global Management Inc. surprised analysts by -$0.08 when it reported $0.94 EPS against a consensus estimate of $1.02. The surprise factor in the prior quarter was $0.48. Based on analyst estimates, the high estimate for the next quarter is $1.41 and the low estimate is $1.21. The average estimate for the next quarter is thus $1.33.
Summary of Insider Activity:
Insiders traded APO stock several times over the past three months with 9 Buys and 8 Sells. In these transactions, 28,159 shares were bought while 244,607 shares were sold. The number of buy transactions has increased to 147 while that of sell transactions has risen to 141 over the past year. The total number of shares bought during that period was 129,086,303 while 58,155,919 shares were sold.