Apollo Global Management LLC Class A Stock Forecast:
According to a forecast from 14 analysts, the average target price for Apollo Global Management LLC Class A stock over the next 12 months is USD 77.38, and the average analyst rating is Strong Buy. Stock Target Advisor‘s analysis is Slightly Bullish, based on 8 positive signals and 6 negative signals. The current stock price is USD 61.83, which represents a -2.97% change over the past week, a +1.58% change over the past month, and a +16.88% change over the past year.
Apollo Global Management Inc. News:
Apollo Global Management Inc, recently reported a decline in its adjusted net income for the first quarter of 2023. The company’s adjusted net income fell by 8% year-on-year to $845 million, missing analysts’ estimates. While management fees and investment income increased, the decline in asset sales had a significant impact on the company’s financial performance.
Apollo’s adjusted net income per share was reported to be $1.42. Meanwhile, its income from performance fees, which largely depends on asset sales, experienced a drastic decline of 96% to $8 million. This decline in performance fees was the primary reason for the company’s lower-than-expected earnings.
On the other hand, under generally accepted accounting principles (GAAP), Apollo reported a net income of $1 billion, compared to a net loss of $401 million in the previous year. The company attributed this improvement to higher revenues from premiums underwritten by Athene. Apollo’s dividend of 43 cents per share was also declared.
About Apollo Global Management Inc.:
Apollo Global Management is a private equity firm that specializes in investments in credit, private equity, and real estate markets. They offer services to endowment and sovereign wealth funds, as well as other institutional and individual investors. They manage portfolios and launch hedge funds, real estate funds, and private equity funds for their clients. They invest globally in fixed income and alternative investment markets, with a focus on various industries such as consumer, energy, technology, and natural resources. Additionally, they are also focused on investing in sustainable industries such as clean energy, sustainable mobility, and sustainable real estate. They employ a combination of contrarian, value, and distressed strategies to make their investments.