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Goldman Sachs Maintains Apollo Global Management Buy Recommendation
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Fintel reports that on August 4, 2023, Goldman Sachs maintained coverage of Apollo Global Management Inc – (NYSE:APO) with a Buy recommendation.
Analyst Price Forecast Suggests 2.02% Upside
As of August 2, 2023, the average one-year price target for Apollo Global Management Inc – is 87.88. The forecasts range from a low of 78.78 to a high of $96.60. The average price target represents an increase of 2.02% from its latest reported closing price of 86.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apollo Global Management Inc – is 4,822MM, a decrease of 81.94%. The projected annual non-GAAP EPS is 6.91.
Apollo Global Management Inc – Declares $0.43 Dividend
On May 9, 2023 the company declared a regular quarterly dividend of $0.43 per share ($1.72 annualized). Shareholders of record as of May 22, 2023 received the payment on May 31, 2023. Previously, the company paid $0.40 per share.
At the current share price of $86.14 / share, the stock’s dividend yield is 2.00%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.36%, the lowest has been 2.11%, and the highest has been 9.87%. The standard deviation of yields is 1.58 (n=236).
The current dividend yield is 1.50 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 2.25. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.27%.
What is the Fund Sentiment?
There are 1157 funds or institutions reporting positions in Apollo Global Management Inc -. This is an increase of 5 owner(s) or 0.43% in the last quarter. Average portfolio weight of all funds dedicated to APO is 0.59%, a decrease of 6.76%. Total shares owned by institutions decreased in the last three months by 5.20% to 350,675K shares. The put/call ratio of APO is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 30,556K shares representing 5.39% ownership of the company. In it’s prior filing, the firm reported owning 30,545K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in APO by 3.96% over the last quarter.
Capital International Investors holds 13,688K shares representing 2.41% ownership of the company. In it’s prior filing, the firm reported owning 13,567K shares, representing an increase of 0.89%. The firm decreased its portfolio allocation in APO by 4.26% over the last quarter.
ANCFX – AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 12,516K shares representing 2.21% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 12,399K shares representing 2.19% ownership of the company. In it’s prior filing, the firm reported owning 10,437K shares, representing an increase of 15.82%. The firm increased its portfolio allocation in APO by 8.61% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 9,356K shares representing 1.65% ownership of the company. In it’s prior filing, the firm reported owning 7,998K shares, representing an increase of 14.52%. The firm increased its portfolio allocation in APO by 12.12% over the last quarter.
Apollo Global Management Background Information
(This description is provided by the company.)
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had assets under management of approximately $433 billion as of September 30, 2020 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.
This article originally appeared on Fintel
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