Shares of Apollo Global Management (APO) declined 5.7% on Friday after the company released mixed results for the fourth quarter of 2021. The company engages in the provision of alternative investment management services.
Earnings per share (EPS) increased 45.8% to $1.05 during the quarter but lagged the Street’s estimate of $1.10. Revenue fell 7.8% year-over-year to $1.2 billion. However, it exceeded analysts’ expectations of $1.15 billion.
Fee-Related earnings of $309.1 million rose 15% year-over-year on the back of higher advisory & transaction, along with management fees. Also, assets under management increased to $497.6 billion due to the growth of retirement services clients and strong third-party fundraising.
Apollo’s CEO Marc Rowan, said, “We remain highly confident in our ability to execute the strategic vision and financial plan we presented at Investor Day in October. Since then, we’ve demonstrated meaningful progress on our three key bets, including expanding asset origination, establishing product and distribution capabilities to serve retail investors, and growing our capital solutions business.”
Stock Rating
Consensus among analysts is a Moderate Buy based on 5 Buy, 1 Hold and 1 Sell. The Apollo stock price prediction of $89.50 implies 36.3% upside potential to current levels. Shares have gained 41.9% over the past year.
Positive Investors Sentiment
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Apollo, as 4.4% of investors on TipRanks increased their exposure to APO stock over the past 30 days.
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