Resource Consulting Group Inc., a prominent institutional investor, recently acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) during the second quarter of this year. As per the company’s Form 13F filing with the U.S. Securities and Exchange Commission (SEC), Resource Consulting Group Inc. purchased 23,166 shares of Apollo Global Management’s stock, with an approximate value of $1,779,000.
Apollo Global Management holds a minor position of about 0.4% in Resource Consulting Group Inc.’s investment portfolio, ranking as their 17th largest holding. This move signifies the investor’s confidence in Apollo Global Management and its potential for growth.
Apollo Global Management publicly disclosed its most recent quarterly earnings results on Thursday, August 3rd. The renowned financial services provider reported earnings per share (EPS) of $1.54 for the quarter, falling short of the consensus estimate by ($0.06). Despite this deviation from expectations, Apollo Global Management managed to showcase a remarkable return on equity of 109.78% and an impressive net margin of 4.91%.
In terms of revenue generation during the quarter, Apollo Global Management generated $793 million compared to the projected consensus estimate of $781.82 million set by sell-side analysts. These financial figures shed light on Apollo Global Management’s consistent performance and their ability to surpass estimates.
According to sell-side analysts’ predictions, it is anticipated that Apollo Global Management will post an EPS of 6.3 for the current fiscal year.
This recent acquisition by Resource Consulting Group Inc., coupled with Apollo Global Management’s financial results for the second quarter, reflects the faith placed in this financial services provider by seasoned institutional investors.
For interested readers seeking more detailed analysis on Apollo Global Management and its performance in today’s market landscape, we encourage you to explore our latest comprehensive report on this subject matter to gain further insights into this organization’s strengths, weaknesses, and future prospects.
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Institutional Investors Show Growing Interest in Apollo Global Management as Stock Performance Remains Promising
Apollo Global Management, a leading financial services provider, recently saw an increase in holdings from various institutional investors. Wellington Shields Capital Management LLC, for instance, acquired an additional 159 shares of Apollo Global Management during the last quarter, boosting its overall holdings by 0.3%. This brings their total ownership to 47,350 shares valued at $3,020,000.
Meiji Yasuda Asset Management Co Ltd. also increased its holdings in Apollo Global Management by 3.1% during the fourth quarter. They now own 5,709 shares worth $364,000 after acquiring an additional 170 shares.
Similarly, McDonald Partners LLC added 175 more shares to their portfolio during the first quarter, resulting in a 2.1% increase in their Apollo Global Management holdings valued at $542,000.
Cannell & Co. slightly boosted its ownership in Apollo Global Management as well by acquiring an additional 177 shares during the first quarter. Their current stake stands at 35,855 shares with a value of $2,265,000.
Fiduciary Group LLC rounded off the list of institutional investors that bumped up their holdings in Apollo Global Management during the first quarter. They acquired an additional 185 shares and now hold a total of 7,789 shares worth $487,000.
These investments reflect a growing interest among hedge funds and other institutional investors towards Apollo Global Management’s stock. According to recent data, approximately 60.86% percent of the stock is owned by such investors.
On Friday September 24th , Apollo Global Management traded up to $90.81 with a trading volume of approximately 1,832,962 shares – slightly below its average volume of around 2,143370 million shares.The stock has been performing well recently with a strong upward trend recorded over both its five day and two-hundred day moving averages with prices currently standing at around $84.66 and $73.00 respectively.
While the stock has seen its fair share of volatility, Apollo Global Management’s market capitalization is estimated to be around $51.47 billion, and it has a price-to-earnings ratio of 43.06, as well as a P/E/G ratio of 0.65. The company also displays a beta of 1.67, suggesting potential fluctuations in correlation with the broader market.
In late August, Apollo Global Management announced the payment of quarterly dividends to its shareholders on Thursday, August 31st. Shareholders who were recorded on Friday, August 18th received a dividend payout of $0.43 per share. This dividend represents an annualized basis dividend amounting to $1.72 and offers a yield of 1.89%. The ex-dividend date for this payout was Thursday, August 17th.Apollo Global Management’s dividend payout ratio (DPR) currently stands at 81.52%.
Market analysts have also shared their perspectives on Apollo Global Management’s stock in recent evaluations.According to reports from StockNews.com,the company was given a “hold” rating by analysts.Citigroup experts raised their price objective from $91 to $100.
TheStreet upgraded Apollo Global Management from a “c+” rating to a “b-” rating indicating positive growth.Meanwhile,Wells Fargo& Company increased their price target from $85 to $95,arguing that the company is well-positioned.There seem to be differing opinions among experts when it comes to Apollo Global Management’s potential.One consensus is that the stock currently holds a moderate buy rating,and based on Bloomberg data,the consensus price target is valued at approximately $85.38.
Overall,Apollo Global Management has witnessed increased interest from institutional investors and has shown promising performance in recent months.Despite some volatility,the company has managed to maintain stability and sound financials,making it an attractive investment option for many in the market.
