Lazard Asset Management LLC Has $90,000 Holdings in APi Group Co. (NYSE:APG)

Lazard Asset Management LLC raised its position in shares of APi Group Co. (NYSE:APGGet Rating) by 74.2% in the second quarter, HoldingsChannel.com reports. The firm owned 6,048 shares of the company’s stock after purchasing an additional 2,576 shares during the quarter. Lazard Asset Management LLC’s holdings in APi Group were worth $90,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APG. Truist Financial Corp increased its position in APi Group by 25.4% during the 1st quarter. Truist Financial Corp now owns 12,661 shares of the company’s stock valued at $266,000 after purchasing an additional 2,564 shares during the period. State of New Jersey Common Pension Fund D increased its position in APi Group by 10.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 124,186 shares of the company’s stock valued at $2,612,000 after purchasing an additional 11,344 shares during the period. Arizona State Retirement System increased its position in APi Group by 11.8% during the 1st quarter. Arizona State Retirement System now owns 42,504 shares of the company’s stock valued at $894,000 after purchasing an additional 4,497 shares during the period. Versor Investments LP acquired a new stake in APi Group during the 1st quarter valued at approximately $348,000. Finally, Envestnet Asset Management Inc. increased its position in APi Group by 4.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 103,665 shares of the company’s stock valued at $2,180,000 after purchasing an additional 4,874 shares during the period. Institutional investors and hedge funds own 73.28% of the company’s stock.

APi Group Price Performance

Shares of APG opened at $18.70 on Thursday. APi Group Co. has a 12-month low of $13.09 and a 12-month high of $26.84. The business’s fifty day moving average is $15.79 and its 200 day moving average is $16.20. The company has a quick ratio of 1.52, a current ratio of 1.62 and a debt-to-equity ratio of 1.29. The stock has a market cap of $4.37 billion, a P/E ratio of -26.34, a P/E/G ratio of 0.67 and a beta of 1.58.

APi Group (NYSE:APGGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. APi Group had a return on equity of 15.13% and a net margin of 0.92%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the business earned $0.35 EPS. APi Group’s quarterly revenue was up 65.7% compared to the same quarter last year. Sell-side analysts anticipate that APi Group Co. will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony E. Malkin acquired 21,500 shares of the company’s stock in a transaction on Monday, September 19th. The shares were acquired at an average cost of $15.10 per share, for a total transaction of $324,650.00. Following the purchase, the director now owns 77,396 shares in the company, valued at $1,168,679.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Anthony E. Malkin acquired 21,500 shares of the company’s stock in a transaction on Monday, September 19th. The shares were acquired at an average cost of $15.10 per share, for a total transaction of $324,650.00. Following the purchase, the director now owns 77,396 shares in the company, valued at $1,168,679.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony E. Malkin acquired 8,554 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $15.35 per share, for a total transaction of $131,303.90. Following the completion of the purchase, the director now owns 53,757 shares in the company, valued at approximately $825,169.95. The disclosure for this purchase can be found here. Insiders have bought a total of 31,792 shares of company stock worth $482,592 in the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APG. TheStreet raised shares of APi Group from a “d+” rating to a “c-” rating in a research report on Thursday, November 3rd. UBS Group raised their price objective on shares of APi Group to $24.00 in a research report on Monday. Barclays reduced their price objective on shares of APi Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. Finally, Royal Bank of Canada raised their price objective on shares of APi Group from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Friday, November 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.43.

APi Group Profile

(Get Rating)

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

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

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