Apollo Reports Strong Preliminary Q1 Alternative Investment Returns

The latest announcement is out from Apollo Global Management ( (APO) ).

Apollo Global Management and its retirement services subsidiary Athene reported preliminary estimates for alternative net investment income of about $205 million pre-tax for the quarter ended March 31, 2026, implying a 6% annualized return on alternative net investments. Within this, Athene’s pooled investment vehicle, which holds most of its alternative portfolio, generated an estimated 7% annualized return, outpacing weak equity markets that saw the S&P 500 deliver an approximately negative 17% annualized total return in the quarter.

Athene’s other alternative investments, including stakes in retirement services platforms such as Athora Holding, produced an estimated 3% annualized return for the first quarter of 2026, with Athora raising capital at a valuation in line with its prior book value. The company stressed that these figures are preliminary, unaudited and subject to change as closing procedures are completed, underscoring that investors should treat the data cautiously and not view it as indicative of full U.S. GAAP results or future performance.

The most recent analyst rating on (APO) stock is a Hold with a $121.00 price target. To see the full list of analyst forecasts on Apollo Global Management stock, see the APO Stock Forecast page.

Spark’s Take on APO Stock

According to Spark, TipRanks’ AI Analyst, APO is a Neutral.

The score is driven primarily by strong underlying financial performance (profitability, improved leverage, and stronger 2025 cash generation) and a notably positive earnings outlook with explicit 2026 growth targets. These are tempered by weak technical momentum (below major moving averages with negative MACD) and only moderate valuation support.

To see Spark’s full report on APO stock, click here.

More about Apollo Global Management

Apollo Global Management is a global alternative asset manager focused on credit, private equity and real assets, with a significant presence in retirement services through its subsidiary Athene Holding. Athene specializes in retirement savings and insurance products, deploying policyholder and annuity capital into alternative investments and spread-based strategies to generate long-term returns.

Average Trading Volume: 5,316,269

Technical Sentiment Signal: Hold

Current Market Cap: $64.43B

See more data about APO stock on TipRanks’ Stock Analysis page.