Apollo Reports Q4 Preliminary Net Investment Income of $265M

Apollo Global Management, Inc. APO and its subsidiary, Athene Holding Ltd., reported preliminary estimates of the company’s alternative net investment income for the fourth quarter of 2024.Alternative net investment income is a component of spread related earnings, which is used to assess the performance of the company's Retirement Services segment.APO’s Preliminary Net Investment Income DetailsThe company estimates alternative net investment income to be nearly $265 million (pre-tax) for the fourth quarter ended Dec. 31, 2024, which equates to an estimated 9% annualized return on alternative net investments.Apollo projects that, among these alternative net investments, the annualized return on Athene's investment in a pooled investment vehicle, which holds the large majority of its alternative investment portfolio, will be 11% for the fourth quarter, and the annualized return on Athene's investments in other alternative investments, such as retirement services platforms, will be 5% for the same period. Alternative investment income attributable to non-controlling interests is not included in these numbers.APO’s fourth-quarter 2024 alternative income is expected to be higher than the alternative net investment income of $190 million reported in the fourth quarter of 2023.Alternative investment income is expected to witness a solid increase, driven by global economic growth, technological advancements, digital transformation in the financial sector and the rising demand for capital raising. APO’s Price Performance & Zacks RankOver the past six months, APO shares have gained 39.4% compared with the industry’s rise of 28.4%. Image Source: Zacks Investment ResearchCurrently, Apollo carries a Zacks Rank #3 (Hold).Better-Ranked Finance StocksA couple of better-ranked stocks from the finance space are Brookfield Asset Management Inc. BAM and Burford Capital Limited BUR. BAM and BUR currently sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for BAM’s earnings for the current fiscal year has been revised 2.8% upward over the past 60 days. Brookfield Asset Management's share price has increased 41.6% over the past six months.Earnings estimates for BUR for the current year have been revised 14.7% upward over the past 60 days. Over the past six months, Burford Capital’s shares have gained 0.1%.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Brookfield Asset Management Ltd. (BAM): Free Stock Analysis Report Apollo Global Management Inc. (APO): Free Stock Analysis Report Burford Capital Limited (BUR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks