I watch everyday for items to buy, or at least ‘watch’. To me something close to 7% and investment grade is a real bargain (not to say they won’t be better bargains in the future).
Here are some most recent potential bargains.
All of the issues from Apollo Global Management (APO) are looking fairly good. This includes Apollo Asset Management issues and those that were originally issues by Athene Holdings, which Apollo purchased in January.
All of those issues can be found here under parent ticker APO.
The current yield on these 6 issues are between 6.41% and 6.84%–pretty dandy yields for all investment grades issues. All issues are perpetual and are a mixture of fixed rate, fixed-to-floating and fixed rate reset–so something for everyone. All of these shares have fallen $1.50 to $3/share in the last 3 or 4 days.
Please note that these are all non cumulative and some are not qualified dividends.
Apollo Global Management has pretty much transformed into a good sized asset manager–$262 billion in assets under management–much which came to APO with the Athene acquisition.
Disclosure–I bought a nibble of the AAM-A 6.375% perpetual this morning for $23.50 or a current yield of about 6.8%.
The other investment grade issues (investment grade from Standard and Poors and 2 noctches less from Moodys) I am watching are the issues from Brighthouse Financial (BHF), which was spun off from Met Life a few years ago and is primarily an annuity manager.
There are 4 perpetual preferreds outstanding, along with 1 issue of baby bonds with current yields of 6.7% to 7.21%. There issues can be seen here.
Once again a current yield in the 7% area is great–but maybe it will go to 8%–who knows? The share prices have gotten hammered down by around $2/share in the last week.
Disclosure–I own shares in the BHFAO issue 6.75% perpetual.
As always I am not recommending any of the above–it is what I am doing, but I can’t make recommendations to anyone, because I don’t know suitability.