Arizona State Retirement System Acquires 4,497 Shares of APi Group Co. (NYSE:APG)

Arizona State Retirement System increased its holdings in APi Group Co. (NYSE:APGGet Rating) by 11.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,504 shares of the company’s stock after purchasing an additional 4,497 shares during the quarter. Arizona State Retirement System’s holdings in APi Group were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of APG. M.D. Sass Investors Services Inc. grew its stake in shares of APi Group by 99.6% in the fourth quarter. M.D. Sass Investors Services Inc. now owns 1,528,785 shares of the company’s stock worth $39,397,000 after purchasing an additional 762,935 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of APi Group by 17.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,000,000 shares of the company’s stock worth $63,090,000 after purchasing an additional 450,000 shares during the last quarter. State Street Corp grew its stake in shares of APi Group by 7.3% in the fourth quarter. State Street Corp now owns 3,652,416 shares of the company’s stock worth $94,123,000 after purchasing an additional 247,440 shares during the last quarter. Alua Capital Management LP grew its stake in shares of APi Group by 8.7% in the fourth quarter. Alua Capital Management LP now owns 2,799,838 shares of the company’s stock worth $72,152,000 after purchasing an additional 223,600 shares during the last quarter. Finally, Snyder Capital Management L P lifted its holdings in APi Group by 13.0% in the fourth quarter. Snyder Capital Management L P now owns 1,865,466 shares of the company’s stock worth $48,073,000 after buying an additional 214,750 shares during the period.

Insider Activity

In other news, Director Anthony E. Malkin acquired 12,600 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The stock was bought at an average cost of $14.47 per share, for a total transaction of $182,322.00. Following the acquisition, the director now directly owns 34,396 shares in the company, valued at $497,710.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

APG has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of APi Group in a report on Friday, June 17th. They issued a “neutral” rating and a $17.00 price objective for the company. Bank of America upgraded shares of APi Group from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Monday, July 11th. Barclays lowered their price objective on shares of APi Group from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Finally, Royal Bank of Canada lowered their price objective on shares of APi Group from $24.00 to $18.00 in a report on Monday, July 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.17.

APi Group Price Performance

APG stock opened at $17.89 on Wednesday. The firm has a 50 day moving average price of $16.21 and a 200-day moving average price of $18.85. APi Group Co. has a 52-week low of $14.13 and a 52-week high of $26.84. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of -27.11, a PEG ratio of 0.62 and a beta of 1.41. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.53 and a current ratio of 1.63.

APi Group (NYSE:APGGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. APi Group had a net margin of 1.04% and a return on equity of 12.06%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue was up 86.8% on a year-over-year basis. Equities research analysts forecast that APi Group Co. will post 1.36 EPS for the current fiscal year.

APi Group Company Profile

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APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.

See Also

Institutional Ownership by Quarter for APi Group (NYSE:APG)

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