Better Times Ahead For Apollo Global Management Inc. (NYSE: APO)?

BlackRock Fund Advisors has recently announced that it has increased stake in Apollo Global Management Inc. (NYSE:APO) by 7.32%. After grabbing 18.34 million shares, the institutional investor is now in possession of 1.25 million shares of the Financial Company. The new investment brought the stake of investor firm to 3.23% having worth around $1.5 billion. Moreover, Capital Research & Management Co increased its share by 16030.0 to have a control over 13.7 million shares. And Tiger Global Management LLC raised its holdings to 9.73 million shares by acquiring 12.34 million shares or 2.17% of the stake.

Apollo Global Management Inc. (APO) concluded trading on 09/13/23 at a closing price of $90.60, with 3.09 million shares of worth about $279.83 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 51.61% during that period and on Wednesday the price saw a gain of about 0.49%. Currently the company’s common shares owned by public are about 578.98M shares, out of which, 404.90M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the APO stock and their offered price forecasts bring an average price target of $94.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $104.00 and could fall to a lowest price of $86.00. The stock’s current price level is 4.17% above of average price target set by the analysts, while a rise to estimated low would result in loss of -5.35% for the stock. However, touching the estimated high of $104.00 would mean a gain of 12.88% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 114 times over the past 12 months. They bought 1,983,642 shares in 33 of the transactions. In 81 selling transactions, insiders dumped 8,421,170 shares.

American Funds Fundamental Invest, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Apollo Global Management Inc. American Funds Fundamental Invest is currently holding 12.52 million shares of worth totaling $1.02 billion. The company recently came buying 0.0 shares which brought its stake up to 2.21% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold 14018.0 shares, after which its hold over company’s outstanding shares shrunk to 2.19%, leaving 12.4 million shares with the mutual fund that have a worth of about $1.01 billion. Vanguard Mid Cap Index Fund, after selling 9.19 million shares, have now control over 1.62% of the stake in the company. It holds 15261.0 shares of worth $751.02 million.

Apollo Global Management Inc. (NYSE: APO) started trading at $90.19, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 91.70, or with a gain of 0.49%. Stock saw a price change of 4.07% in past 5 days and over the past one month there was a price change of 10.54%. Year-to-date (YTD), APO shares are showing a performance of 42.03% which increased to 53.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $45.62 but also hit the highest price of $90.52 during that period. The average intraday trading volume for Apollo Global Management Inc. shares is 2.32 million. The stock is currently trading 7.22% above its 20-day simple moving average (SMA20), while that difference is up 10.16% for SMA50 and it goes to 28.63% higher than SMA200.

BlackRock Fund Advisors acquired 18.34 million shares of Apollo Global Management Inc. having value of about $1.5 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.25 million shares in the company valued at close to $113314235.4, or have control over 7.32% stake in the company. Apollo Global Management Inc. (NYSE: APO) currently have 578.98M outstanding shares and institutions hold larger chunk of about 56.10% of that. Holding of mutual funds in the company is about 30.13% while other institutional holders and individual stake holders have control over 30.14% and 28.16% of the stake respectively.

The stock has a current market capitalization of $50.93B and its 3Y-monthly beta is at 1.67. PE ratio of stock for trailing 12 months is 42.44, while it has posted earnings per share of $2.13 in the same period. Its PEG reads 1.91 while making debt-to-equity ratio of 0.82. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for APO, volatility over the week remained 1.99% while standing at 2.04% over the month.

Analysts are in expectations that Apollo Global Management Inc. (APO) stock would likely to be making an EPS of $1.82 in the current quarter, while forecast for next quarter EPS is $1.85 and it is $8.2 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.72 which is $1.94 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -173.20% while it is estimated to increase by 20.83% in next year. EPS is likely to grow at an annualized rate of 22.20% for next 5-years, compared to annual growth of -26.50% made by the stock over the past 5-years.

Analysts at 17 brokerage firms have issued recommendations for the Apollo Global Management Inc. (APO)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 17 Wall Street analysts, 10 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on May 19, 2023 offering a Buy rating for the stock and assigned a target price of $80 to it.