Apollo Global Management, LLC
) rose by 2.7% at the end of the trading session on Oct 2,
following the company's announcement of completion of the
acquisition of the U.S. annuity operations of Aviva plc by Athene
The completion of the transaction works in favour of Apollo
Global, which provides asset allocation and related services to
Athene. The newly acquired assets will also be added to the
company's total assets under management, which is expected to
increase $45 billion to $158 billion. The total assets under
management will comprise of $107 billion in credit, $40 billion
in private equity, and $9.5 billion in real estate.
A day earlier, funds affiliated with Apollo Global completed
the acquisition of Pitney Bowes Management Services for $400
million in cash.
The current Zacks Consensus Estimate for Apollo Global for
years 2013 and 2014 are pegged at $3.60 and $3.03, reflecting
annual decline of 5.9% and 15.6%, respectively. Despite the
annual decline, the results are anticipated to be better compared
with the Zacks Consensus. We have
of +38.0% for 2013 and +71.2% for 2014.
Apollo Global Management, LLC is a New-York based publicly
owned investment manager. The company currently has a market
capitalization of $4.2 billion and carries a Zacks Rank #3
Other companies to watch out for in the industry are
Artisan Partners Asset Management Inc.
GAMCO Investors, Inc.
), each with a Zacks Rank #1 (Strong Buy) while
Affiliated Managers Group Inc.
) holds a Zacks Rank #2 (Buy).
AFFIL MANAGERS (AMG): Free Stock Analysis
ARTISAN PTNR AM (APAM): Free Stock Analysis
APOLLO GLOBAL-A (APO): Free Stock Analysis
GAMCO INVESTORS (GBL): Free Stock Analysis
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