The Vanguard Group, Inc. recently announced the acquisition of new stake in Apollo Global Management Inc. (NYSE:APO). The institutional investor has increased its shareholding in the Financial company by 2.39% to 34.81 million shares with purchase of 0.81 million shares. This fresh investment now brings its stake to 6.10% valued currently at $2.21 billion. In addition, Brave Warrior Advisors LLC raised its holdings by 86419.0 to 7.94 million shares. And Fidelity Management & Research Co has lifted its position by 74.24% or 3.24 million shares – to 7.62 million shares.
With over 1.74 million Apollo Global Management Inc. (APO) shares trading Friday and a closing price of $63.85 on the day, the dollar volume was approximately $110.89 million. The shares have shown a positive half year performance of 2.39% and its price on 05/19/23 gained nearly 0.17%. Currently, there are 584.12M common shares owned by the public and among those 328.86M shares have been available to trade.
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Insiders at the company have transacted a total of 87 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 17,895,398 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 22,165,519 shares.
The top 3 mutual fund holders in Apollo Global Management Inc. are American Funds Fundamental Invest, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund. American Funds Fundamental Invest owns 12.52 million shares of the company’s stock, all valued at over $793.37 million. Vanguard Total Stock Market ETF bought 1.82 million shares to see its total holdings expand to 12.4 million shares valued at over $785.92 million and representing 2.17% of the shares outstanding. Vanguard Mid Cap Index Fund bought 1.34 million shares to bring its total holdings to over 9.36 million shares at a value of $593.12 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.64% of the shares outstanding.
Shares of Apollo Global Management Inc. (NYSE: APO) opened at $63.92, up $0.18 from a prior closing price of $63.74. However, the script later moved the day high at 64.24, up 0.17%. The company’s stock has a 5-day price change of 2.14% and -10.62% over the past three months. APO shares are trading 0.09% year to date (YTD), with the 12-month market performance up to 17.50% higher. It has a 12-month low price of $45.62 and touched a high of $74.63 over the same period. APO has an average intraday trading volume of 2.93 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.43%, 3.47%, and 3.66% respectively.
Institutional ownership of Apollo Global Management Inc. (NYSE: APO) shares accounts for 56.10% of the company’s 584.12M shares outstanding. Mutual fund holders own 29.53%, while other institutional holders and individual stakeholders account for 30.20% and 27.41% respectively.
It has a market capitalization of $36.17B and a beta (3y monthly) value of 1.67. The earnings-per-share (ttm) stands at -$2.39. The company has a debt-to-equity ratio at 0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.30% over the week and 2.87% over the month.
Analysts forecast that Apollo Global Management Inc. (APO) will achieve an EPS of $1.66 for the current quarter, $1.72 for the next quarter and $7.76 for 2024. The lowest estimate earnings-per-share for the quarter is $1.53 while analysts give the company a high EPS estimate of $1.79. Comparatively, EPS for the current quarter was $0.94 a year ago. Earnings per share for the fiscal year are expected to decrease by -173.20%, and 18.28% over the next financial year. EPS should grow at an annualized rate of 7.76% over the next five years, compared to -26.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Apollo Global Management Inc. (APO) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 5 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
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