Apollo Global Management Inc. (NYSE: APO) stock jumped 0.63% on Thursday to $91.17 against a previous-day closing price of $90.60. With 2.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.31 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $91.39 whereas the lowest price it dropped to was $89.86. The 52-week range on APO shows that it touched its highest point at $91.70 and its lowest point at $45.62 during that stretch. It currently has a 1-year price target of $94.54. With its current market cap of 51.25 billion, APO has annualized dividend of $1.72 while the current yield stands at 1.89%. Beta for the stock currently stands at 1.67.
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 up-trending over the past week, with a rise of 4.65%, but this was up by 13.23% over a month. Three-month performance surged to 19.72% while six-month performance rose 58.25%. The stock gained 60.91% in the past year, while it has gained 42.92% so far this year. A look at the trailing 12-month EPS for APO yields 2.13 with Next year EPS estimates of 8.20. For the next quarter, that number is 1.82. This implies an EPS growth rate of -173.20% for this year and 20.83% for next year. EPS is expected to grow by 22.20% 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, 578.98 million APO shares are outstanding with a float of 404.90 million shares on hand for trading. On Aug 30, 2023, short shares totaled 13.16 million, which was 2.32% higher than short shares on Jul 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.
Other institutions hold 30.14% of APO, in contrast to 30.13% held by mutual funds. Shares owned by individuals account for 28.16%. As the largest shareholder in APO with 6.90% of the stake, The Vanguard Group, Inc. holds 39,120,204 shares worth 39,120,204. A second-largest stockholder of APO, Capital Research & Management Co, holds 30,541,422 shares, controlling over 5.38% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in APO, holding 18,337,184 shares or 3.23% stake. With a 2.21% 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 12,397,484 shares valued at 1.01 billion. Vanguard Mid Cap Index Fund holds 1.62% of the stake in APO, owning 9,191,338 shares worth 751.02 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 Jun 29, 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 -$2.82.
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 $104.00 and a low target of $86.00, the average target price over the next 12 months is $94.71. Based on these targets, APO could surge 14.07% to reach the target high and fall by -5.67% to reach the target low. Reaching the average price target will result in a growth of 3.88% 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 6 Buys and 9 Sells. In these transactions, 20,853 shares were bought while 175,848 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 81 over the past year. The total number of shares bought during that period was 1,983,642 while 8,421,170 shares were sold.