Entropy Technologies LP Has $3.28 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Entropy Technologies LP increased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 139.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,184 shares of the financial services provider’s stock after acquiring an additional 17,006 shares during the quarter. Entropy Technologies LP’s holdings in Apollo Global Management were worth $3,282,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Apollo Global Management during the fourth quarter valued at about $586,016,000. TD Asset Management Inc lifted its position in Apollo Global Management by 4,248.9% in the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after acquiring an additional 2,402,686 shares in the last quarter. Third Point LLC acquired a new position in Apollo Global Management during the 4th quarter valued at about $83,871,000. Vanguard Group Inc. increased its holdings in Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Apollo Global Management by 199.8% in the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock worth $104,041,000 after purchasing an additional 616,575 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Apollo Global Management stock traded down $2.74 during midday trading on Wednesday, reaching $121.26. The stock had a trading volume of 2,135,518 shares, compared to its average volume of 2,387,065. The firm has a market capitalization of $68.90 billion, a PE ratio of 13.43, a P/E/G ratio of 1.02 and a beta of 1.59. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $124.01. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $116.55 and its 200 day moving average price is $110.43.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). The business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. As a group, research analysts predict that Apollo Global Management, Inc. will post 7.11 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.463 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.53%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APO. TD Cowen upped their price target on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. UBS Group raised their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Finally, Jefferies Financial Group dropped their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $119.29.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.