In recent news, FIL Ltd has reduced its stake in shares of Apollo Global Management, Inc. by 50.8% during the first quarter of this year, as reported in their most recent Form 13F filing with the SEC. This move saw them sell 462,142 shares of the financial services provider’s stock, leaving them with 447,446 shares at the end of the reporting period. The total value of their stake in Apollo Global Management amounted to $28,261,000.
Apollo Global Management (NYSE:APO) recently announced its quarterly earnings results on August 3rd. According to these results, the company reported earnings per share of $1.54 for the quarter, falling short of analysts’ consensus estimates by $0.06. Despite this miss, Apollo Global Management managed to maintain a net margin of 4.91% and an impressive return on equity of 109.78%. In terms of revenue, the firm generated $793 million during the quarter, outperforming market expectations that were set at $781.82 million.
As we look ahead to the current fiscal year, sell-side analysts are predicting that Apollo Global Management will achieve an EPS (earnings per share) figure of 6.3. Although there is uncertainty surrounding future performance and market conditions can impact outcomes significantly, these predictions provide some insight into what can be expected from the company moving forward.
It is worth noting that Apollo Global Management is a widely recognized and respected financial services provider within its industry. They offer a range of services including asset management and capital investment strategies for institutional and individual investors worldwide.
In conclusion, FIL Ltd’s decision to decrease its stake in shares of Apollo Global Management indicates a strategic move on their part. While it is essential for investors to remain cautious when interpreting market fluctuations and earnings reports in isolation – as factors such as economic conditions and industry trends can impact outcomes significantly – these developments provide valuable information for those interested in the financial services sector. It will be interesting to see how the company navigates potential challenges and capitalizes on opportunities in the future.
Major Investors Show Interest in Apollo Global Management as Stock Trading and Evaluations Soar
In recent developments, several major investors have been actively trading shares of Apollo Global Management, a prominent financial services provider. M&T Bank Corp notably increased its holdings in the company by an astounding 30.7% during the first quarter, now owning approximately 22,134 shares valued at roughly $1.4 million. This significant acquisition followed the purchase of an additional 5,196 shares by M&T Bank Corp in the last quarter.
Likewise, FMR LLC also expanded its stake in Apollo Global Management by an impressive 78.1% in the first quarter, now holding a total of 8,830,094 shares worth around $557.7 million after acquiring an additional 3,872,458 shares recently. Cerity Partners LLC raised its holdings in the company by a modest 4.5%, bringing their current ownership to 113,984 shares valued at $7.2 million after purchasing an additional 4,914 shares during this period.
Furthermore, ExodusPoint Capital Management LP showcased their interest in Apollo Global Management by acquiring new positions in the first quarter amounting to approximately $1.08 million. Notably, American Century Companies Inc., while exhibiting a comparatively smaller increase of 1.4%, now possesses around 33,605 shares currently valued at $2.1 million after an addition of just 474 shares.
It is noteworthy that these investments made by various hedge funds and institutional investors collectively represent up to 60.86% ownership of Apollo Global Management’s stock.
Traded on the New York Stock Exchange (NYSE:APO), Apollo Global Management began trading on Tuesday at a price of $83.65 per share. The company maintains a debt-to-equity ratio of 0.85 and exhibits robust liquidity with both quick and current ratios at 0.74 each.
With a market capitalization standing at an impressive $47.41 billion and a price-to-earnings ratio of 39.64, Apollo Global Management presents an intriguing investment opportunity. The company also boasts a promising price-to-earnings-growth (PEG) ratio of 0.59 and a beta value of 1.67.
Over the past year, investors have witnessed a significant fluctuation in the stock’s trading range, with Apollo Global Management experiencing a one-year low of $45.62 and reaching a high of $87.82. However, due to its relatively stable performance in recent months, the stock currently averages a 50-day simple moving average of $79.86 and a 200-day simple moving average of $70.67.
Adding another positive aspect to consider for potential investors, Apollo Global Management recently announced its intention to distribute a quarterly dividend payment on Thursday, August 31st. Shareholders recorded on Friday, August 18th will be allocated a dividend amounting to $0.43 per share, equivalent to an annualized dividend rate of $1.72 per share and yielding at 2.06%. Importantly, this dividend is subject to the ex-dividend date falling on Thursday, August 17th.
Analysts from various firms have expressed their views regarding Apollo Global Management’s stock rating and price targets. Notably, Morgan Stanley recently raised their price target from $81.00 to $88.00 and granted the company an “equal weight” rating in their research report published on Tuesday, August 8th.
Citigroup also revised their price objective for Apollo Global Management by increasing it from $91.00 to $100.00 in a research note made public on Friday, August 4th.
Additionally, Wells Fargo & Company has decided to boost their projection for the company’s target price from $85.00 to $95.00 while providing an “overweight” rating simultaneously in their research report published on the same day.
Echoing their counterparts, BMO Capital Markets has raised its target price for Apollo Global Management as well. They increased it from $89.00 to $96.00 and issued an “outperform” rating, also on Friday, August 4th.
Lastly, The Goldman Sachs Group has shown immense confidence in the stock’s prospects by raising their price target from $86.00 to $98.00 while giving the company a “buy” rating based on their research report published on the same date.
Overall, according to available data from Bloomberg, Apollo Global Management currently holds a consensus rating of “Moderate Buy” among four investment analysts who have researched the stock. Furthermore, the average target price forecasted for Apollo Global Management stands at approximately $84.79.
With these diverse opinions and evaluations from reputable institutions, investors now have significant insights into Apollo Global Management’s performance and potential for future growth in the financial services sector.