Select Equity Group L.P. Sells 558,624 Shares of APi Group Co. (NYSE:APG)

Select Equity Group L.P. decreased its holdings in shares of APi Group Co. (NYSE:APG) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,303,798 shares of the company’s stock after selling 558,624 shares during the period. Select Equity Group L.P.’s holdings in APi Group were worth $118,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APG. Blue Trust Inc. raised its position in shares of APi Group by 92.3% in the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of APi Group by 53.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock worth $43,000 after acquiring an additional 414 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of APi Group by 2,058.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock worth $82,000 after acquiring an additional 217,071 shares in the last quarter. R Squared Ltd bought a new position in shares of APi Group in the 4th quarter worth approximately $85,000. Finally, Principal Securities Inc. raised its position in shares of APi Group by 28.1% in the 4th quarter. Principal Securities Inc. now owns 2,611 shares of the company’s stock worth $94,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

APG stock opened at $45.88 on Friday. The company has a market cap of $12.70 billion, a P/E ratio of -23.29 and a beta of 1.54. APi Group Co. has a 1 year low of $30.76 and a 1 year high of $46.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The stock’s fifty day moving average price is $37.76 and its 200-day moving average price is $37.47.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities analysts forecast that APi Group Co. will post 1.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on APG. UBS Group reduced their price objective on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Truist Financial reissued a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on APi Group from $39.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday. Robert W. Baird lifted their target price on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Barclays lifted their target price on APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.57.

Insider Transactions at APi Group

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

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.