How are energy investors positioned?
NEW YORK - Apollo Global Management, Inc. (NYSE: APO), currently trading at $126.78 and identified as undervalued according to InvestingPro Fair Value metrics, has announced significant changes to its Board of Directors, with Gary Cohn appointed as the new Lead Independent Director and CEO Marc Rowan taking on the additional role of Chair of the Board starting April 21, 2025. These appointments follow the resignation of Jay Clayton, who will be leaving his position at Apollo to serve as Interim US Attorney for the Southern District of New York.
Gary Cohn, currently Vice Chairman of IBM and former director of the US National Economic Council, brings extensive experience in the financial services sector to Apollo. His career includes a 26-year tenure at Goldman Sachs, where he held the position of President and Chief Operating Officer for a decade. Cohn is also known for his public sector work and his role on the Board of Trustees of NYU Langone Health.
Outgoing Chair Jay Clayton, who has been with Apollo since March 2021, expressed his confidence in Cohn’s capabilities, highlighting his "unparalleled understanding of the role financial services firms play in our global economy." Clayton also commended CEO Marc Rowan for his leadership, which has been instrumental in the company’s transformation and success.
Marc Rowan, in response to his expanded role and the board changes, acknowledged Clayton’s contributions to Apollo, emphasizing the importance of Cohn’s appointment in maintaining the firm’s commitment to best-in-class governance. Rowan is poised to continue driving Apollo’s growth strategy and operational excellence in his expanded role.
Apollo, a leading global alternative asset manager with a market capitalization of $72.57 billion, has maintained a two-thirds independent Board of Directors with these changes. The firm, which manages approximately $751 billion in assets as of December 31, 2024, specializes in delivering excess returns across various asset classes and providing capital solutions for growth. InvestingPro analysis reveals the company’s strong financial position, with an EBITDA of $6.63 billion and a 15-year track record of consistent dividend payments. Discover more insights about Apollo’s performance and potential with InvestingPro’s comprehensive research report, part of its coverage of over 1,400 US equities.
The information in this article is based on a press release statement from Apollo Global Management.
In other recent news, Apollo Global Management has released preliminary financial results for the first quarter of 2025, reporting alternative net investment income of approximately $290 million, which corresponds to an estimated annualized return of 9%. This figure, though surpassing TD Cowen’s expectations, fell short of the broader market consensus. Apollo’s subsidiary, Athene Holding Ltd., is expected to deliver an annualized return of 10% from its pooled investment vehicle. Meanwhile, Raymond James has initiated coverage of Apollo’s stock with a Strong Buy rating, noting the firm’s potential for robust growth and excellent risk management. They set a price target of $173, citing a projected compound annual growth rate of approximately 15% in earnings per share through 2029. Additionally, TD Cowen has maintained a Buy rating with a $214 price target, despite mixed results and external economic pressures. In another development, Apollo has announced a joint venture with Summit Ridge Energy, committing $400 million to enhance commercial solar infrastructure in Illinois. This partnership aims to bolster domestic power generation and cater to the rising electricity demands of households and businesses.
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