Point72 Asset Management L.P. Acquires 140,644 Shares of APi Group Co. (NYSE:APG)

Point72 Asset Management L.P. increased its holdings in shares of APi Group Co. (NYSE:APG) by 187.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,544 shares of the company’s stock after purchasing an additional 140,644 shares during the period. Point72 Asset Management L.P. owned approximately 0.08% of APi Group worth $7,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Equitable Trust Co. boosted its holdings in shares of APi Group by 1.7% in the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock valued at $744,000 after buying an additional 351 shares during the period. CIBC Asset Management Inc boosted its stake in APi Group by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock worth $265,000 after purchasing an additional 370 shares during the period. Blue Trust Inc. increased its holdings in APi Group by 92.3% during the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of APi Group by 3.9% in the 4th quarter. EntryPoint Capital LLC now owns 10,435 shares of the company’s stock valued at $375,000 after purchasing an additional 389 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of APi Group by 53.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock valued at $43,000 after purchasing an additional 414 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup decreased their price objective on APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a report on Monday, April 14th. UBS Group cut their price objective on shares of APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of APi Group from $39.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird raised their target price on shares of APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, Truist Financial reissued a “buy” rating and set a $48.00 price target (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.57.

APi Group Stock Performance

NYSE APG opened at $45.88 on Monday. The firm has a market capitalization of $12.70 billion, a P/E ratio of -23.29 and a beta of 1.54. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average price is $37.76 and its two-hundred day moving average price is $37.53. APi Group Co. has a 1 year low of $30.76 and a 1 year high of $46.18.

APi Group (NYSE:APG) last issued its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm earned $0.34 EPS. APi Group’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that APi Group Co. will post 1.83 EPS for the current year.

Insider Activity

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

APi Group Company 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.