Ethic Inc. Increases Holdings in APi Group Co. (NYSE:APG)

Ethic Inc. grew its holdings in shares of APi Group Co. (NYSE:APG) by 99.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,747 shares of the company’s stock after buying an additional 12,823 shares during the quarter. Ethic Inc.’s holdings in APi Group were worth $926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Deutsche Bank AG raised its position in APi Group by 310.5% in the 4th quarter. Deutsche Bank AG now owns 212,822 shares of the company’s stock worth $7,655,000 after purchasing an additional 160,981 shares during the period. Durable Capital Partners LP boosted its stake in shares of APi Group by 199.8% during the fourth quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company’s stock valued at $180,121,000 after purchasing an additional 3,337,468 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of APi Group by 85.6% during the fourth quarter. Cetera Investment Advisers now owns 63,123 shares of the company’s stock valued at $2,271,000 after purchasing an additional 29,104 shares in the last quarter. Captrust Financial Advisors boosted its stake in APi Group by 50.0% in the fourth quarter. Captrust Financial Advisors now owns 14,508 shares of the company’s stock valued at $522,000 after acquiring an additional 4,839 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in APi Group in the fourth quarter valued at approximately $584,000. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the sale, the director now directly owns 5,612,102 shares of the company’s stock, valued at $239,748,997.44. This represents a 2.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on APG shares. Royal Bank of Canada upgraded shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Tuesday, January 14th. Robert W. Baird raised their target price on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. UBS Group cut their price objective on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Finally, Citigroup dropped their target price on shares of APi Group from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

APi Group Stock Performance

APG opened at $45.83 on Wednesday. The firm has a market capitalization of $12.69 billion, a PE ratio of -23.26 and a beta of 1.54. APi Group Co. has a twelve month low of $30.76 and a twelve month high of $46.18. The firm’s 50-day moving average price is $37.19 and its 200 day moving average price is $37.24. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

APi Group (NYSE:APG) last issued its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. APi Group’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that APi Group Co. will post 1.83 EPS for the current fiscal year.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.