Two Sigma Advisers LP Boosts Holdings in APi Group Co. (NYSE:APG)

Two Sigma Advisers LP increased its stake in shares of APi Group Co. (NYSE:APG) by 44.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,296,700 shares of the company’s stock after buying an additional 402,100 shares during the period. Two Sigma Advisers LP owned about 0.47% of APi Group worth $46,642,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Equitable Trust Co. increased its holdings in APi Group by 1.7% during the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock worth $744,000 after buying an additional 351 shares during the last quarter. CIBC Asset Management Inc increased its holdings in APi Group by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock worth $265,000 after buying an additional 370 shares during the last quarter. Blue Trust Inc. increased its holdings in APi Group by 92.3% during the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the last quarter. EntryPoint Capital LLC increased its stake in shares of APi Group by 3.9% in the fourth quarter. EntryPoint Capital LLC now owns 10,435 shares of the company’s stock worth $375,000 after purchasing an additional 389 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake 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 worth $43,000 after purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group 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 completion of the sale, the director now directly owns 5,612,102 shares in the company, valued at $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the sale, the director now owns 1,046,203 shares of the company’s stock, 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APG. JPMorgan Chase & Co. lifted their target price on shares of APi Group from $39.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup reduced their target price on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Barclays lifted their target price on shares of APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Truist Financial reiterated a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Finally, Robert W. Baird lifted their target price on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.57.

APi Group Price Performance

Shares of NYSE:APG opened at $46.01 on Tuesday. The company has a 50 day moving average of $37.95 and a 200 day moving average of $37.60. The stock has a market cap of $12.74 billion, a P/E ratio of -23.36 and a beta of 1.54. APi Group Co. has a 12 month low of $30.76 and a 12 month high of $46.18. 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 quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. APi Group’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, sell-side analysts forecast that APi Group Co. will post 1.83 EPS for the current fiscal year.

About APi Group

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.