Stock Alert: Apollo Global Management Inc. (APO) Shares Hit 52-Week High

(RTTNews) - Shares of Apollo Global Management Inc. (APO) touched a new 52-week high of $52.67 on Jan. 30, after the company announced strong Q4 results. However, the stock retreated nearly 9% to close at $46.63, when Apollo said in its conference call that net realized perormance fees for 2020 will be flat with 2019 levels.

Jan. 31, the company reported Q4 net income of $156.8 million or $0.68 per share versus a loss of $196.4 million or $1.00 per share last year.

Total revenues amounted to $914.7 million, compared to negative revenue of $114.8 million last year.

"Our results for the fourth quarter of 2019 capped another exceptional year for Apollo, driven by strong investment performance across our integrated global platform," said Leon Black, Chairman and Chief Executive Officer.

Apollo declared a cash dividend of $0.89 per share of its Class A Common Stock for the fourth quarter ended December 31, 2019. This dividend will be paid on February 28, 2020 to holders of record at the close of business on February 11, 2020.