Apollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. The firm provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It also focuses on clean energy, sustainable industry, climate solutions, energy transition, industrial decarbonization, sustainable mobility, sustainable resource use, and sustainable real estate. It seeks to invest in companies based in across Africa, North America with a focus on United States, and Europe. The firm also makes investments outside North America, primarily in Western Europe and Asia. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $75 million and $1500 million. The firm seeks to invest in companies with Enterprise value between $750 million to $2500 million. The firm conducts in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, Inc. was founded in 1990 and is headquartered in New York, New York with additional offices in North America, Asia, India and Europe.

Apollo Global Management, Inc. (New)

Investors interested in Financial - Investment Management stocks are likely familiar with Invesco (IVZ) and Apollo Global Management Inc. (APO). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Invesco has a Zacks Rank of #2 (Buy), while Apollo Global Management Inc. has a Zacks Rank of #3 (Hold) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that IVZ is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
IVZ currently has a forward P/E ratio of 12.79, while APO has a forward P/E of 16.43. We also note that IVZ has a PEG ratio of 0.84. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. APO currently has a PEG ratio of 1.34.
Another notable valuation metric for IVZ is its P/B ratio of 0.92. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, APO has a P/B of 2.23.
These are just a few of the metrics contributing to IVZ's Value grade of A and APO's Value grade of C.
IVZ sticks out from APO in both our Zacks Rank and Style Scores models, so value investors will likely feel that IVZ is the better option right now.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IVZ or APO: Which Is the Better Value Stock Right Now?

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the T. Rowe Price Value ETF (Symbol: TVAL), we found that the implied analyst target price for the ETF based upon its underlying holdings is $38.47 per unit.
With TVAL trading at a recent price near $34.27 per unit, that means that analysts see 12.26% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of TVAL's underlying holdings with notable upside to their analyst target prices are SLB Ltd (Symbol: SLB), Apollo Global Management Inc (Symbol: APO), and Marsh & McLennan Companies Inc. (Symbol: MMC). Although SLB has traded at a recent price of $34.90/share, the average analyst target is 34.11% higher at $46.80/share. Similarly, APO has 25.45% upside from the recent share price of $126.53 if the average analyst target price of $158.74/share is reached, and analysts on average are expecting MMC to reach a target price of $222.42/share, which is 17.49% above the recent price of $189.31. Below is a twelve month price history chart comparing the stock performance of SLB, APO, and MMC:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
T. Rowe Price Value ETF
TVAL
$34.27
$38.47
12.26%
SLB Ltd
SLB
$34.90
$46.80
34.11%
Apollo Global Management Inc
APO
$126.53
$158.74
25.45%
Marsh & McLennan Companies Inc.
MMC
$189.31
$222.42
17.49%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Analysts Predict 12% Gains Ahead For TVAL

Key Points
Companies typically use stock splits to make their stock price more attainable for retail investors and to boost liquidity.
Although reverse stock splits can be bearish, regular stock splits can occur after shares have experienced significant appreciation.
Stock splits are tools that publicly traded companies can use to artificially lower their stock price and increase their outstanding share count without changing their market cap. The most common reason a company may conduct a traditional stock split is if its stock just went on a big run and management wants to make it more attainable for retail investors.
Unlike reverse stock splits, regular stock splits are not considered bearish, and investors do not see them as impediments for buying the stock. Here are two companies that have undergone stock splits, with billionaire investors and their hedge funds pouring into them.
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Brookfield
Brookfield (NYSE: BN), a large international asset and wealth manager with over $1 trillion in assets under management, caters to both individual and institutional investors.
The company recently instituted a three-for-two stock split implemented through a stock dividend on Oct. 9. The board of directors said the split is meant to ensure that shares remain attainable to retail investors and to boost liquidity. Several billionaire investment managers have purchased the stock:
Bill Ackman's Pershing Square Capital Management initiated a position in early 2024 and built it to 19% of its portfolio, owning over 41 million shares at the end of the second quarter, prior to the split.
Two Sigma Advisers, a division of Two Sigma Investments co-founded by billionaires John Overdeck and David Siegel, increased its position in Brookfield by 317% in the second quarter and now owns 31,700 shares.
In a second-quarter letter to shareholders, Brookfield CEO Bruce Flatt said the company's long-term plan is to improve capital efficiency to increase return on equity, a key financial metric for financial firms. It plans to do this by focusing on long duration, low risk insurance.
In Pershing's second-quarter letter to shareholders, Ackman said that Brookfield has already built up its insurance and annuity arm to $135 billion in assets. Ackman and his team also like how this business is positioned in the attractive United Kingdom market. They think Brookfield can grow annual cash flow at a 20% compound rate in the medium term and earn a higher earnings multiple over time.
Based on its earnings over the past year, Brookfield trades at about 12 times earnings, which Pershing notes is a discount to peers like Apollo and KKR. Transitioning to a more capital-light strategy and focusing on insurance has helped many other financial companies drive up their valuations over time, so I think Brookfield's strategy has a good chance of succeeding.
Interactive Brokers Group
Another financial company that billionaires have been buying is the large online brokerage Interactive Brokers Group (NASDAQ: IBKR), which caters to institutional traders and retail investors. The stock has exploded this year and is up over 50%. Interactive Brokers completed a four-for-one stock split on June 17, while also increasing its dividend.
Billionaires have clearly taken notice of the company and continued to pile into the stock in the second quarter:
Soros Fund Management, where billionaire investor George Soros is still the chairman, increased its position by 1,027% to over 2.2 million shares. A good portion of this reflects the stock split, but the share count still increased by a multiple of more than 10, indicating the fund added shares.
Interactive Brokers has experienced strong growth over the past year, with customer accounts up 32%. It has also added more than a half-million new accounts through the first half of the year, more than in all of 2023.
Management believes the company's interest rate offerings make the brokerage an attractive place for customers to put their cash. And international growth has been strong because the company offers overnight trading to its many clients in Europe and Asia, which allows them to access the U.S. markets during their regular trading hours.
The stock is not exactly cheap, trading at 34 times forward earnings, but the company has already grown earnings through the first half of the year by 20%.
Interactive Brokers offers more revenue sources than a pure-play retail broker, with geographic diversity among the U.S., Europe, and the Asia-Pacific region, as well as client diversity among retail traders, institutions, financial advisors, and proprietary trading groups.
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Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Brookfield, Brookfield Corporation, Interactive Brokers Group, and KKR. The Motley Fool recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group and short January 2027 $46.25 calls on Interactive Brokers Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Stock-Split Stocks Billionaires Are Piling Into for 2026

Below is Validea's guru fundamental report for APOLLO GLOBAL MANAGEMENT INC (APO). Of the 22 guru strategies we follow, APO rates highest using our P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
APOLLO GLOBAL MANAGEMENT INC (APO) is a large-cap growth stock in the Investment Services industry. The rating using this strategy is 81% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of APOLLO GLOBAL MANAGEMENT INC
More Information on Peter Lynch
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

APO Quantitative Stock Analysis - Peter Lynch

Rocket Companies, Inc. RKT has completed the acquisition of Mr. Cooper Group Inc. in terms of a $14.2 billion all-stock transaction. This deal marks the largest independent mortgage acquisition in U.S. history.
As a result of the acquisition, the combined company is expected to serve nearly 10 million clients, managing a $2.1 trillion unpaid principal balance, which represents roughly one in every six mortgages across the country.
Strategic Implications Behind Acquisition
The combination unites Mr. Cooper’s servicing operations with Rocket’s scale in mortgage origination and its growing real estate and technology platform. Together, the companies will create a comprehensive homeownership ecosystem spanning mortgage origination, servicing, real estate search, title and closing. As part of the transaction, Mr. Cooper and its servicing operations will transition under the Rocket brand.
The integration strengthens client relationships by offering more opportunities to access lending products across the homeownership journey — from initial purchase to refinancing and home equity solutions.
As announced in March, RKT expects the deal to generate $100 million in additional pre-tax revenues from higher recapture rates and other services, along with $400 million in pre-tax cost savings from streamlined operations and technology investments.
The acquisition enhances RKT’s data capabilities, adding nearly 7 million new clients and 150 million annual customer interactions. This expanded dataset will improve automation, personalization and overall operational efficiency. Moreover, the combined companies will benefit from a more balanced business model, allowing them to generate stable earnings across various interest rate environments.
Mr. Cooper Group & Rocket Companies’ Management Remarks
Jay Bray, then CEO of Mr. Cooper, stated that, “This transaction brings to a close a multi-year journey during which Mr. Cooper grew to become the nation's largest servicer and produced enormous value for our clients, partners, stakeholders and investors.”
Bray further added, “Now, by joining forces with Rocket, we start a new journey, which I believe offers an even bigger opportunity. Through the power of our platform and our people, we will create a more personalized experience that makes owning a home more attainable and easier to navigate. Together, we will deliver the change the housing industry needs.”
Varun Krishna, CEO and director of Rocket Companies, stated, "Homeownership is the bedrock of the American Dream. By combining mortgage servicing and loan origination, along with home search through Redfin, we are paving the path for Americans to own the dream."
Krishna further added, "Jay Bray and his team have built a technology-driven platform that is the backbone of Mr. Cooper, helping it scale to become the largest servicer in the country. By integrating Mr. Cooper's servicing strength with Rocket's origination capabilities and AI technology and established strong national brand, our goal is to lower costs and make the process easier."
RKT’s Price Performance & Zacks Rank
Over the past six months, shares of RKT have gained 32.6% compared with the industry’s 25.2% growth.
Image Source: Zacks Investment Research
Currently, Rocket Companies carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Acquisition by Other Finance Firms
In September 2025, Apollo Global Management, Inc. APO completed its previously announced acquisition of Bridge Investment Group Holdings Inc. The all-stock transaction, valued at $1.5 billion, was announced in February 2025.
The acquisition provides APO with immediate scale in real estate equity and enhances its origination capabilities across secular growth areas. Founded in 2009, Bridge manages approximately $50 billion in assets across residential, industrial and niche real estate verticals.
In the same month, BlackRock, Inc. BLK completed the acquisition of ElmTree Funds, LLC, a St. Louis–based real estate investment firm specializing in net-lease assets.
The deal is part of BLK’s long-term goal to raise $400 billion for private markets by 2030. The acquisition expands BlackRock’s private markets platform, giving clients broader access to alternative investments beyond traditional stocks and bonds.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Rocket Companies Completes $14.2B All-Stock Acquisition of Mr. Cooper

Apollo Global Management, Inc. APO has received regulatory approval to launch three evergreen, semi-liquid European Long-Term Investment Funds (“ELTIFs”). The launch will further broaden access to institutional-quality private markets for individual investors across Europe, Asia, and Latin America.
Details of the Launch by APO
The new funds, Apollo European Private Credit ELTIF (AEPC ELTIF), Apollo Global Diversified Credit ELTIF (AGDC ELTIF), and Apollo Global Private Markets ELTIF (AGPM ELTIF), have been authorized by Luxembourg’s Commission de Surveillance du Secteur Financier and will operate under the updated ELTIF 2.0 regime.
Apollo’s three new ELTIFs bring a distinct investment focus. The AEPC will seek steady income by originating primarily first-lien, senior-secured loans to large-cap and upper-middle-market European companies. The AGDC will take a flexible, multi-asset approach to private credit, allocating across sectors, such as direct lending and asset-backed finance, to capture diverse income opportunities.
Further, the AGPM is designed to generate long-term capital growth through investments in private companies worldwide, including secondaries and co-investments accessed through Apollo’s extensive global network.
APO’s ETLIF Launch Broadens Private Markets Access
With the additions, Apollo’s Luxembourg platform now features eight evergreen products, further strengthening its Global Wealth business. The expansion follows a strong first half in 2025, during which the division attracted $9 billion in inflows across 18 strategies, highlighting rising investor demand for diversified private markets solutions.
This expanded platform strengthens the company’s ability to deliver a comprehensive suite of solutions and turnkey access points to institutional-grade private markets strategies for eligible investors across Europe, Asia, and Latin America, in compliance with local regulations.
The launch will also offer individual investors greater access to Apollos' private markets expertise through personalized, evergreen formats and broader distribution channels.
Veronique Fournier, Head of EMEA Global Wealth, stated, “With these three new ELTIFs, we continue to bring the best of Apollo’s investing expertise to wealth investors in Europe and around the world, in product formats tailored to their needs.
Fournier added, “In our Global Wealth business, we continue to expand our holistic suite of solutions to meet growing demand from investors seeking to build diversified portfolios with meaningful private markets exposure.”
APO’s Prior Efforts to Boost Private Markets Access
Over recent years, Apollo has scaled its Global Wealth business, providing access to private markets strategies via Luxembourg-based SICAV structures. It has consistently built a multi-asset private markets platform, spanning private credit, direct lending, asset-backed finance, private equity, secondaries, and co-investments.
APO has also formed partnerships to strengthen its private markets capabilities, particularly in Europe and Asia. In 2024, Apollo inked a deal with Citigroup C for a subsidiary of Citigroup and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program initially focused on North America, potentially expanding to additional geographies. Both APO and C expect the program to finance $25 billion in debt opportunities over the next several years, including corporate and financial sponsor transactions.
In the same year, Apollo and its affiliates announced their partnership with State Street's STT asset management business, State Street Global Advisors. The APO and STT partnership is aimed at enhancing investors' accessibility to private markets opportunities.
Final Words on Apollo
The launch of three ELTIFs highlights Apollo’s commitment to making private markets more accessible to a broader range of investors. By expanding its evergreen Luxembourg platform and leveraging the flexibility of the ELTIF 2.0 framework, the company is well-positioned to capture rising demand for alternative investments while deepening its global wealth footprint.
The company’s prior efforts have been centered on creating scalable, diversified, and accessible private market solutions, positioning the firm as a leader in bringing institutional-quality opportunities to global wealth and institutional clients.
APO’s Zacks Rank & Price Performance
In the past year, shares of Apollo have gained 10.7% compared with the industry’s 10.2% rise.
Image Source: Zacks Investment Research
Currently, APO carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Apollo Launches Three Evergreen ELTIFs to Broaden Private Markets Access

In afternoon trading on Wednesday, Financial stocks are the worst performing sector, showing a 0.5% loss. Within that group, KKR & CO Inc (Symbol: KKR) and Apollo Global Management Inc (new (Symbol: APO) are two large stocks that are lagging, showing a loss of 5.5% and 4.0%, respectively. Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (Symbol: XLF), which is down 0.4% on the day, and up 11.93% year-to-date. KKR & CO Inc, meanwhile, is down 5.53% year-to-date, and Apollo Global Management Inc (new, is down 14.87% year-to-date. Combined, KKR and APO make up approximately 2.1% of the underlying holdings of XLF.
The next worst performing sector is the Technology & Communications sector, showing a 0.5% loss. Among large Technology & Communications stocks, Synopsys Inc (Symbol: SNPS) and Micron Technology Inc. (Symbol: MU) are the most notable, showing a loss of 4.4% and 3.8%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 0.8% in midday trading, and up 20.05% on a year-to-date basis. Synopsys Inc, meanwhile, is down 3.45% year-to-date, and Micron Technology Inc. is up 90.41% year-to-date. Combined, SNPS and MU make up approximately 2.5% of the underlying holdings of XLK.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday. As you can see, three sectors are up on the day, while six sectors are down.
Technology & Communications
-0.5%
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wednesday Sector Laggards: Financial, Technology & Communications

T. Rowe Price Group TROW and Apollo Global Management APO are two of the most well-known players in the asset management industry, but with different strengths. Apollo focuses on private equity and alternative assets, while T. Rowe Price specializes in mutual funds and active equity/fixed-income management. Both compete for investor capital in the broader asset management industry.
Let’s closely examine other factors at play for TROW and APO to determine which stock has more upside potential.
The Case for Apollo
Apollo’s diverse business model ensures sustainable earnings. The company’s diversified AUM across various asset classes, client bases, and geographies offers support. Its AUM balance witnessed a CAGR of 7.8% over the past three years (2021-2024). The increase in AUM is primarily driven by the growth of its retirement services client assets, subscriptions across the platform, and new financing facilities. The momentum continued in the first half of 2025. By 2029, Apollo expects its total AUM to reach almost $1.5 trillion by scaling its private equity business.
Growth is being reinforced through acquisitions and partnerships. This month, Apollo completed its acquisition of Bridge Investment Group Holdings, enhancing real estate and infrastructure capabilities. It also extended a multi-billion-dollar partnership with Mubadala, launched a $25 billion private credit program with Citigroup, and partnered with State Street Global Advisors to broaden retail access to private markets.
On the financial side, Apollo has demonstrated robust organic growth. Revenues expanded at a 63.7% CAGR (2021–2024), though growth moderated in the first half of 2025. The expansion of retail channels through Athene, alongside strong inflows, positions Apollo for continued revenue gains across Asset Management and Retirement Services.
The Case for TROW
T. Rowe Price’s diversified AUM across various asset classes, client bases, and geographies offers support and ensures sustainable earnings. Its AUM balance witnessed a CAGR of 2.3% over the past four years (2020-2024). Further, the uptrend in AUM persisted in the first six months of 2025 on the back of market appreciation and continued strength in multi-asset and fixed income. A strong brand, consistent investment track record, and decent business volumes are expected to keep supporting AUM growth in the upcoming period.
Further, the company has made efforts to expand its business operations through alliances and acquisitions. This month, T. Rowe Price teamed up with Goldman Sachs GS to offer individual investors greater access to private markets. In 2024, T. Rowe announced plans for a partnership with Aspida. Through this partnership, the company expects to manage public and private assets for Aspida. This highlights its continued commitment to the expansion of the insurance business and to delivering innovative investment opportunities for its clients. In 2023, it acquired Retiree, a fintech firm providing innovative retirement income planning software.
Organic growth remains a key strength at T. Rowe Price, as reflected in its revenue growth story. Net revenues saw a four-year (ended 2024) CAGR of 3.4%. The trend continued in the first half of 2025. Going forward, the company’s focus on fortifying its business by enhancing investment capabilities, broadening distribution reach, and investing in new product offerings will support top-line growth.
How do Earnings Estimates Compare for APO & TROW?
The Zacks Consensus Estimate for APO’s 2025 and 2026 earnings implies a year-over-year rise of 4.7% and 19.3%, respectively. Earnings estimates for both years have been revised upward over the past 60 days.
Earnings Estimates
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for TROW’s 2025 earnings implies a year-over-year decline of 1.6% while for 2026, it suggests a rise of 4.9%. Earnings estimates for both years have been revised upward over the past 60 days.
Earnings Estimates
Image Source: Zacks Investment Research
APO & TROW: Price Performance, Valuations & Other Comparisons
Over the past year, APO outperformed the industry, while T. Rowe Price lagged. APO has gained 17.3%, while TROW has risen 0.5% compared with the industry’s growth of 14%.
Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, APO is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 16.3X, while TROW is currently trading at a forward 12-month P/E multiple of 11X. Both are trading at a discount compared to the industry’s average of 17.45X.
Price-to-Earnings F12M
Image Source: Zacks Investment Research
Both Apollo and T. Rowe Price reward their shareholders handsomely. Apollo raised its dividend five times over the past five years. It has a dividend yield of 1.5%. Similarly, TROW raised its dividend five times over the past five years. It has a dividend yield of 4.8%.
TROW and APO: Which Offers More Value?
While both Apollo and T. Rowe Price are strong players in the asset management industry, Apollo offers greater upside potential for investors. Its diversified and rapidly growing alternative asset platform, aggressive expansion through acquisitions and strategic partnerships, and strong earnings growth trajectory position it well for continued outperformance.
In contrast, T. Rowe Price delivers steady, reliable growth and high dividend yield, but its more conservative approach and slower AUM and revenue growth limit its upside relative to Apollo.
Coupled with stronger stock performance over the past year and a promising 2026 earnings outlook, APO offers better upside potential for growth-oriented investors seeking exposure to the alternative asset space.
TROW and APO currently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Artificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.
Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.
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Want 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
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Apollo vs. T. Rowe Price: Which Asset Manager Has Better Upside?

Apollo Global Management APO has focused on growth through a strategy of inorganic expansion, acquiring companies and assets across diverse sectors rather than relying solely on organic growth. This approach has enabled Apollo to rapidly increase its assets under management (AUM), diversify revenue streams and strengthen its market position. However, growth through acquisitions carries inherent risks, including integration challenges, high leverage, and exposure to economic and regulatory fluctuations.
Let us delve deeper and discuss whether Apollo’s acquisition-driven strategy can translate into sustainable returns and make its stock a compelling investment choice.
APO’s Inorganic Growth Efforts
Apollo is a high-growth asset management firm with strategies dedicated to investing in companies with solid growth potential.
This month, APO completed its previously announced acquisition of Bridge Investment Group Holdings Inc. The acquisition provides Apollo with immediate scale in real estate equity and enhances its origination capabilities across secular growth areas. Founded in 2009, Bridge manages approximately $50 billion in assets across residential, industrial and niche real estate verticals.
The transaction is expected to be accretive to Apollo’s fee-related earnings and nearly doubles its real estate AUM to more than $110 billion. Bridge’s integration will further strengthen Apollo’s hybrid and equity offerings, particularly for institutional and wealth clients.
In May 2025, Bloomberg reported that Apollo is teaming up with JPMorgan Chase JPM, Goldman Sachs GS, and three other banks to introduce greater liquidity into the rapidly expanding private credit market. Through partnerships with major banks, including JPM and GS, Apollo aims to expand its capacity significantly to originate larger loans more swiftly. This positions APO to tap into the individual investor market, wherein the demand for liquidity and flexibility is typically higher than that of institutional investors. This initiative is a key element of Apollo’s broader strategy to expand its credit trading footprint.
In 2024, APO formed strategic alliances with Citigroup and State Street to expand private credit and broaden wealth access opportunities. In the same year, Apollo and its affiliates announced their partnership with State Street's asset management business, State Street Global Advisors, to enhance investors' accessibility to private market opportunities.
The inorganic expansion will support Apollo’s business by increasing opportunities for fee generation, dealmaking, asset appreciation and strategic exits across its investment platforms. This is expected to accelerate long-term AUM growth and support its goal of scaling a total AUM to $1.5 trillion by 2029.
Other Factors Driving APO’s Growth
Revenue Growth: Apollo has demonstrated strong organic growth, with total GAAP revenues seeing a three-year CAGR of 63.7% through 2024. Although year-over-year growth slowed in the first half of 2025, continued strength in its Asset Management and Retirement Services businesses is expected to support revenue expansion. A key driver has been Apollo’s strategic focus on retail distribution, particularly through its Athene subsidiary, which maintains a leading market share.
By adding distribution partners and expanding retail channels, Apollo is positioned to drive inflows and reinforce its standing in the retail investment market. This, coupled with the company’s financial strength, underlines expectations for robust inflows and sustained growth in 2025.
Strategic Growth Plan: At the Investor Day Conference held on Oct. 1, 2024, APO outlined its business strategy and financial goals for the next five years (ending 2029).
The company expects fee-related earnings to witness 20% average annual growth by 2029, while spread-related earnings are projected to see 10% average annual growth by 2029.
Management projected $15 in after-tax net income per share for 2029. By 2029, Apollo expects to grow its total assets under management (AUM) to $1.5 trillion by scaling its private equity business.
Equity AUM is expected to double in the next five years to reach $270 billion. The company has set a massive new goal to double its $562-billion private lending business in five years.
The company anticipates expanding its Global Wealth Management business to more than $150 billion by 2029. APO’s management has set a five-year target, inclusive of all origination, both debt origination and equity origination, of more than $275 billion.
Solid Liquidity Aid Capital Distribution: As of June 30, 2025, the company had $2.4 billion in cash and cash equivalents, and $4.3 billion in long-term debt. A higher level of liquid assets in the company aids in impressive capital distribution activities.
In May 2025, the company announced a 10.9% increase in its quarterly dividend to 51 cents per share. It has increased its dividends five times in the past five years, with a payout ratio of 30%.
Apart from regular dividend payouts, it has a share repurchase program. In February 2024, the company’s board of directors authorized the repurchase of up to $3 billion of its common shares. As of June 30, 2025, $1.03 billion worth of shares were available under the authorization. Given the decent liquidity position, the company is expected to sustain its capital distribution activities and will keep enhancing shareholder value.
APO’s Price Performance & Estimate Analysis
In the past year, APO shares have gained 24.1%, outperforming the industry and the S&P 500 Index’s 14.1% and 20.4% rallies, respectively.
Price Performance
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Apollo’s 2025 and 2026 sales implies year-over-year rallies of 18% and 19.4%, respectively.
Sales Estimates
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Apollo’s 2025 and 2026 earnings indicates year-over-year increases of 4.7% and 19.3%, respectively.
Earnings Estimates
Image Source: Zacks Investment Research
Final Thoughts on Apollo
The company’s strategy of combining inorganic acquisitions with strong organic growth will position the firm as a strong player in alternative asset management and private credit. Its recent acquisitions, strategic partnerships, and expansion of retail distribution channels are expected to drive fee growth, increase AUM, and enhance shareholder returns.
Further, supported by solid liquidity, disciplined capital management, and a track record of consistent dividends and share repurchases, Apollo is well-positioned to capitalize on market opportunities. While risks related to integration and leverage remain, the company’s diversified portfolio and robust growth strategy make its stock a potentially attractive option for long-term investors seeking exposure to high-growth alternative investments.
At present, Apollo carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.