Apollo Global Management, LLC (APO) — with a yield of 8.0% — is my top investment idea of 2019 for income-oriented investors, explains Crista Huff, editor of Cabot Undervalued Stocks Advisor.
Apollo Global is an alternative investment company. Apollo’s assets under management (AUM) total $270 billion, broken down as follows: credit (68%), private equity (27%) and real estate (5%).
APO is a mid-cap stock with a market capitalization of $4.9 billion. The most recent four quarterly dividend payouts totaled $1.93. At a recent price of 24, the current yield is 8%. What’s more, the stock traded as high as 35.5 in October, so there’s 48% capital gain potential for new investors if the stock rebounds to 2018 highs.
As the share price suffered during the recent market downturn, the current dividend yield rose, making the prospect of owning APO shares more compelling for both individual and institutional investors.
In late December, Tiger Global Management reported a purchase of 1.1 million APO shares at an approximate cost of $26 million. APO is a great choice for income investors and growth stock investors.
