Apollo Global Management Inc. (NYSE: APO) stock fell -2.10% on Wednesday to $62.97 against a previous-day closing price of $64.32. With 1.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.95 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $63.54 whereas the lowest price it dropped to was $62.63. The 52-week range on APO shows that it touched its highest point at $74.63 and its lowest point at $45.62 during that stretch. It currently has a 1-year price target of $76.04. With its current market cap of 35.67 billion, APO has annualized dividend of $1.63 while the current yield stands at 2.59%. Beta for the stock currently stands at 1.67.
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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 -0.71%, but this was up by 2.17% over a month. Three-month performance dropped to -11.57% while six-month performance rose 0.53%. The stock gained 14.03% in the past year, while it has lost -1.29% so far this year. A look at the trailing 12-month EPS for APO yields -2.39 with Next year EPS estimates of 7.77. For the next quarter, that number is 1.66. This implies an EPS growth rate of -173.20% for this year and 18.28% for next year. EPS is expected to grow by 7.76% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -26.50%.
Float and Shares Shorts:
At present, 584.12 million APO shares are outstanding with a float of 328.86 million shares on hand for trading. On Apr 27, 2023, short shares totaled 9.64 million, which was 1.69% higher than short shares on Mar 30, 2023. In addition to Mr. Marc Jeffrey Rowan as the firm’s Co-Founder, CEO & Director, Mr. Martin Bernard Kelly serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 56.68% of APO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 30.20% of APO, in contrast to 29.58% held by mutual funds. Shares owned by individuals account for 26.78%. As the largest shareholder in APO with 6.88% of the stake, The Vanguard Group, Inc. holds 39,256,859 shares worth 39,256,859. A second-largest stockholder of APO, Capital Research & Management Co, holds 30,555,982 shares, controlling over 5.36% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in APO, holding 17,086,475 shares or 2.99% 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 ETF, which owns about 2.19% of APO stock, is the second-largest Mutual Fund holder. It holds 12,469,613 shares valued at 790.45 million. Vanguard Mid Cap Index Fund holds 1.64% of the stake in APO, owning 9,352,138 shares worth 592.83 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, APO reported revenue of $2.27B and operating income of -$3.51B. The EBITDA in the recently reported quarter was -$3.18B and diluted EPS was -$3.53.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APO since 0 analysts follow the stock currently. 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 $89.00 and a low target of $65.00, the average target price over the next 12 months is $78.14. Based on these targets, APO could surge 41.34% to reach the target high and rise by 3.22% to reach the target low. Reaching the average price target will result in a growth of 24.09% 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.
Summary of Insider Activity:
Insiders traded APO stock several times over the past three months with 0 Buys and 10 Sells. In these transactions, 0 shares were bought while 1,398,405 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 54 over the past year. The total number of shares bought during that period was 17,895,398 while 22,130,519 shares were sold.
