Consolidated Investment Group LLC Purchases 45,000 Shares of APi Group Corporation $APG

Consolidated Investment Group LLC grew its holdings in shares of APi Group Corporation (NYSE:APG) by 46.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 142,300 shares of the company’s stock after purchasing an additional 45,000 shares during the quarter. Consolidated Investment Group LLC’s holdings in APi Group were worth $5,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in APG. Squarepoint Ops LLC increased its position in APi Group by 125.4% in the 2nd quarter. Squarepoint Ops LLC now owns 967,869 shares of the company’s stock valued at $40,989,000 after acquiring an additional 538,508 shares during the period. Aubrey Capital Management Ltd bought a new stake in APi Group during the 2nd quarter valued at $2,782,000. WINTON GROUP Ltd acquired a new position in APi Group during the 2nd quarter worth $1,160,000. Pictet Asset Management Holding SA boosted its position in APi Group by 11.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 11,457,638 shares of the company’s stock worth $442,284,000 after acquiring an additional 1,154,344 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of APi Group by 7.5% in the first quarter. Principal Financial Group Inc. now owns 855,638 shares of the company’s stock worth $34,670,000 after purchasing an additional 59,715 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG stock opened at $42.55 on Tuesday. APi Group Corporation has a 1-year low of $35.57 and a 1-year high of $49.99. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of -67.54, a P/E/G ratio of 1.86 and a beta of 1.57. The stock’s fifty day simple moving average is $39.93 and its 200-day simple moving average is $41.95.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. APi Group had a return on equity of 38.31% and a net margin of 4.12%. APi Group’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, sell-side analysts predict that APi Group Corporation will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on APG. Wall Street Zen lowered APi Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Truist Financial set a $58.00 price target on shares of APi Group and gave the stock a “buy” rating in a research note on Friday, October 30th. UBS Group set a $52.00 price target on APi Group in a research report on Monday, July 20th. Robert W. Baird set a $47.00 price objective on APi Group in a report on Friday, July 31st. Finally, Wells Fargo & Company upped their price target on shares of APi Group from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $54.67.

APi Group Profile

APi Group Corporation is a provider of safety and specialty services for commercial, industrial and institutional customers. Its work includes the installation, inspection, maintenance and repair of systems and infrastructure used in buildings and industrial facilities.

The company’s services include fire protection and life-safety systems, security, heating and cooling, plumbing, electrical work, and other building and infrastructure services. APi Group delivers these offerings through a network of operating businesses and local brands.

APi Group traces its roots to a pipe installation business established in Minnesota in 1926.