APO

Apollo Global Management Inc - Ordinary Shares - Class A (New)

Finance/Real Estate


Presented:01/17/2023
Price:$68.03
Cap:$54.06B
Current Price:$141.55
Cap:$112.10B

Presented

Date01/17/2023
Price$68.03
Market Cap$54.06B
Ent Value$33.27B
P/E RatioN/A
Book ValueN/A
Div Yield2.35%
Shares O/S794.69M
Ave Daily Vol2,348,049
Short Int1.77%

Current

Price$141.55
Market Cap$112.10B
Apollo Global Management, Inc. provides asset management services. It offers its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. The company was founded in 1990 and is headquartered in New York, NY.

Publicly traded companies mentioned herein: Apollo Global Management Inc (APO)

Highlights

The presenter is long shares of Apollo Global Management Inc (APO), a private equity giant that largely operates in credit, insurance, and annuities. Its portfolio of businesses allows APO to not only originate proprietary investment grade credit, but also to sell into third-party insurance companies and earn a fee while remaining capital light. On the captive side of the business (i.e., Athene), APO generates returns ~250bps above the corporate investment grade average and nets approximately half of that outperformance after fees/expenses, defaults, and paying employees. He thinks this is an attractive position given the macroeconomic environment and models a base case price target of $100 per share over the next 12 – 18 months compared to the current $69 per share. 

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Idea Discussion

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