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

Point72 Asset Management L.P. increased its stake in APi Group Co. (NYSE:APG) by 187.8% during the fourth quarter, Holdings Channel reports. The firm owned 215,544 shares of the company’s stock after acquiring an additional 140,644 shares during the period. Point72 Asset Management L.P.’s holdings in APi Group were worth $7,753,000 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 the stock. Blue Trust Inc. increased its holdings in APi Group by 92.3% in the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock valued at $27,000 after buying an additional 386 shares during the period. First Horizon Advisors Inc. raised its position in APi Group by 53.4% during 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. R Squared Ltd acquired a new position in APi Group during the fourth quarter valued at approximately $85,000. Principal Securities Inc. lifted its stake in APi Group by 28.1% during the fourth quarter. Principal Securities Inc. now owns 2,611 shares of the company’s stock worth $94,000 after purchasing an additional 573 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of APi Group by 828.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,805 shares of the company’s stock valued at $137,000 after purchasing an additional 3,395 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG stock opened at $45.88 on Monday. The firm has a 50 day moving average of $37.76 and a 200-day moving average of $37.53. The company has a market cap of $12.70 billion, a price-to-earnings ratio of -23.29 and a beta of 1.54. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. APi Group Co. has a 52 week low of $30.76 and a 52 week high of $46.18.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of APi Group in a research note on Thursday, February 27th. UBS Group reduced their price target on shares of APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Barclays upped their price objective on shares of APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. 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, Citigroup decreased 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 note on Monday, April 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.57.

Insider Buying and Selling

In other APi Group news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of the company’s 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 owns 5,612,102 shares in the company, valued at approximately $239,748,997.44. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.

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.