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Apollo Global Management, Inc. (APO)

NYSE - NYSE Delayed Price. Currency in USD
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47.03+0.47 (+1.01%)
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Previous Close46.56
Open46.33
Bid46.38 x 1300
Ask47.00 x 1000
Day's Range46.33 - 47.10
52 Week Range33.66 - 55.39
Volume2,099,589
Avg. Volume2,205,630
Market Cap10.921B
Beta (5Y Monthly)1.61
PE Ratio (TTM)106.89
EPS (TTM)0.44
Earnings DateApr 29, 2021 - May 03, 2021
Forward Dividend & Yield2.40 (5.10%)
Ex-Dividend DateFeb 18, 2021
1y Target Est58.00
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Bloomberg

    UAE’s Mubadala May Join $12 Billion Aramco Oil Pipeline Deal

    (Bloomberg) -- An Abu Dhabi sovereign wealth fund may join a group investing in Saudi Aramco’s oil pipelines, in a deal set to be backed by a loan of around $10.5 billion.Mubadala Investment Co., a fund with $232 billion of assets, is in talks with U.S. investor EIG Global Energy Partners LLC, the lead member of the consortium, according to a Mubadala spokesperson. A final agreement has yet to be reached, the spokesperson said.Aramco has helped put together the loan, which the group will use to fund the transaction, according to people familiar with the matter. BNP Paribas SA, Citigroup Inc., HSBC Holdings Plc and Mizuho Financial Group Inc are among the lenders, according to the people.HSBC declined to comment. None of the other three banks immediately responded to requests for comment on Sunday.Washington-based EIG and Aramco, the world’s largest oil company, announced the $12.4 billion deal late Friday. The investors will buy 49% of Aramco Oil Pipelines Co., a recently-formed entity with rights to 25 years of tariff payments for crude shipped through the Saudi Arabian firm’s network. Aramco will own the rest of the shares and retain full ownership of the pipelines themselves.The transaction is part of Saudi Arabia’s drive to open up more to foreign investment and use the money to diversify its economy, which was hammered last year by coronavirus lockdowns and the fall in oil prices.The disposal may also help Aramco reduce its debt and maintain its dividend, the biggest of any listed firm globally. The company -- 98% owned by the Saudi government -- paid out $75 billion to shareholders last year.The deal is structured similarly to one last year involving Abu Dhabi National Oil Co. In June, Adnoc raised $10.1 billion by selling leasing rights in its natural-gas pipelines to a group including Global Infrastructure Partners and Singapore’s sovereign wealth fund, GIC Pte.East-West PipelineHSBC advised EIG on the Aramco acquisition, one of the largest this year in the energy sector. Apollo Global Management Inc., Brookfield Asset Management Inc. and BlackRock Inc. were among the other investors that made or considered bids.Mubadala is the second-biggest wealth fund in the United Arab Emirates, of which Abu Dhabi is the capital.The transaction covers all of Aramco’s existing and future pipelines in the kingdom, according to EIG. The company’s vast network includes the East-West Pipeline, which can carry more than 5 million barrels of crude a day from Saudi Arabia’s main fields in the east to Yanbu on the Red Sea.EIG described it as a “lease and lease-back agreement.” Aramco will lease usage rights for its pipelines to the new subsidiary, which will then give Aramco the exclusive right to use the network for the 25-year period in exchange for a quarterly, volume-based tariff. Aramco will retain all operating and capital expense risk, EIG said.(Updates with details on lenders.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Apollo Announces Extension of the Tender Offer for Shares of The Michaels Companies
    GlobeNewswire

    Apollo Announces Extension of the Tender Offer for Shares of The Michaels Companies

    NEW YORK, April 08, 2021 (GLOBE NEWSWIRE) -- Magic MergeCo, Inc. (the “Purchaser”), an entity controlled by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), a leading global alternative investment manager, and The Michaels Companies, Inc. (“Michaels”) (Nasdaq: MIK) today announced an agreement to extend the offering period of the previously commenced cash tender offer by the Purchaser to purchase all of the issued and outstanding shares of common stock of Michaels to 5:00 P.M., New York City time, on April 14, 2021, unless further extended. The tender offer was previously scheduled to expire one minute after 11:59 P.M., New York City time, on April 12, 2021. Computershare Trust Company, N.A., the depositary for the tender offer, has advised Apollo that, as of 5:00 P.M., New York City time, on April 8, 2021, 57,954,675 shares of common stock of Michaels, representing approximately 40.49% of the issued and outstanding Michaels shares, were tendered pursuant to the tender offer. Stockholders who have already tendered their shares of common stock of Michaels do not have to re-tender their shares or take any other actions as a result of the extension of the expiration of the tender offer. The Purchaser expects the tender offer will be consummated promptly following the expiration of the offering period (as hereby extended), subject to the satisfaction or waiver of the remaining conditions to the consummation of the tender offer set forth in the merger agreement. Georgeson LLC is the Information Agent for the tender offer and any questions or requests for the Offer to Purchase and related materials with respect to the tender offer may be directed to them by telephone, toll-free, at (888) 663-7851. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. About Apollo Apollo is a leading global investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo, among others. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in credit, private equity and real assets funds. For more information about Apollo, please visit www.apollo.com. Forward-Looking Statements Any forward-looking statements, including, but not limited to, statements regarding the proposed transaction between Apollo and Michaels, the ability of the parties to complete the transaction and the expected timetable for completing the transaction, strategic and other potential benefits of the transaction, and other statements about Apollo’s future expectations, beliefs, goals, plans or prospects, are subject to risks and uncertainties such as those described under the heading “Risk Factors” in Michaels’ periodic reports on file with the SEC. These statements speak only as of the date of this press release and are based on Apollo’s and Michaels’ current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different from those described in or implied by such forward-looking statements, including risks and uncertainties regarding: uncertainty about how many of Michaels’ stockholders will tender their shares in the tender offer; the possibility that any or all of the various conditions to the consummation of the tender offer may not be satisfied or waived in a timely manner, if at all; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; changes in financial markets; changes in economic, political or regulatory conditions; changes in facts and other circumstances and uncertainties concerning the proposed transaction; and other factors set forth from time to time in Michaels’ SEC filings, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, as well as the tender offer statement, solicitation/recommendation statement and other tender offer documents that will be filed by Apollo and Michaels, as applicable. Apollo and Michaels caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Except as required by applicable law or regulation, Apollo does not undertake any obligation to update or revise any such forward-looking statements to reflect future events or circumstances. Important Additional Information This press release is neither an offer to purchase nor a solicitation of an offer to sell common stock of Michaels or any other securities. This communication is for informational purposes only. The tender offer transaction that commenced on March 16, 2021 by affiliates of Apollo is being made pursuant to a Tender Offer Statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by such affiliates of Apollo with the U.S. Securities and Exchange Commissions (“SEC”). In addition, Michaels filed a related Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC. The offer to purchase shares of Michaels’ common stock is only being made pursuant to the Offer to Purchase, the Letter of Transmittal and related offer materials filed as a part of the Tender Offer Statement on Schedule TO, in each case as amended from time to time. THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND OTHER MATERIALS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. PRIOR TO MAKING ANY DECISION REGARDING THE TENDER OFFER, MICHAELS STOCKHOLDERS ARE STRONGLY ADVISED TO CAREFULLY READ THE TENDER OFFER STATEMENT ON SCHEDULE TO (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND OTHER OFFER MATERIALS) AND THE RELATED SOLICITATION/ RECOMMENDATION STATEMENT ON SCHEDULE 14D-9, AS FILED AND AS MAY BE AMENDED FROM TIME TO TIME. Michaels stockholders may obtain the Tender Offer Statement on Schedule TO (including the Offer to Purchase, the related Letter of Transmittal and other offer materials) and the related Solicitation/Recommendation Statement on Schedule 14D-9 at no charge on the SEC’s website at www.sec.gov. In addition, the Tender Offer Statement on Schedule TO (including the Offer to Purchase, the related Letter of Transmittal and other offer materials) and the related Solicitation/Recommendation Statement on Schedule 14D-9 may be obtained free of charge from Georgeson LLC, 1290 Avenue of the Americas, 9th Floor, New York, New York 10104, Telephone Number (888) 663-7851, the information agent for the tender offer. Media Contact: For Apollo:Investor Contact:Peter MintzbergHead of Investor RelationsApollo Global Management, Inc.212 822 0528APOInvestorRelations@apollo.com Media Contact:Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.212 822 0491Communications@apollo.com

  • Black Says He Paid to Hide Affair, Denies It Led to Apollo Exit
    Bloomberg

    Black Says He Paid to Hide Affair, Denies It Led to Apollo Exit

    (Bloomberg) -- Leon Black, who abruptly stepped down last month as chief executive officer of Apollo Global Management Inc., said he made payments for years to keep a consensual affair secret and that accusations over the episode on social media had nothing to do with his departure.Black, 69, denied allegations levied by Guzel Ganieva on Twitter, who wrote in little-noticed posts in mid-March: “I was sexually harassed and abused by him for years” and ultimately “forced” to sign a non-disclosure agreement in 2015. Black issued a statement after the New York Post reported that at least four Apollo board members had become aware of her tweets by the time he handed off his post March 21, citing unspecified health issues for himself and his wife.“I foolishly had a consensual affair with Ms. Ganieva that ended more than seven years ago,” Black said in the statement Thursday. “Any allegation of harassment or any other inappropriate behavior towards her is completely fabricated. The truth is that I have been extorted by Ms. Ganieva for many years and I made substantial monetary payments to her, based on her threats to go public concerning our relationship, in an attempt to spare my family from public embarrassment.”Black had previously planned to step down by the end of July as CEO of the firm he co-founded. He said that, on advice from his counsel, he asked criminal authorities several weeks ago to investigate Ganieva.“This is entirely a personal matter,” he said. “This matter has nothing to do with Apollo or my decision to step away from the firm.”Ganieva, reached by Bloomberg, said via text message: “I stand by what I said in my tweets on March 17.” She said she would refer further questions to an attorney.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.