Jennison Associates LLC Acquires 10,871 Shares of APi Group Co. (NYSE:APG)

Jennison Associates LLC boosted its holdings in APi Group Co. (NYSE:APG) by 27.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,411 shares of the company’s stock after acquiring an additional 10,871 shares during the quarter. Jennison Associates LLC’s holdings in APi Group were worth $1,744,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in APG. Toronto Dominion Bank bought a new stake in shares of APi Group in the 3rd quarter valued at approximately $30,000. Signaturefd LLC boosted its stake in APi Group by 40.2% in the 4th quarter. Signaturefd LLC now owns 3,617 shares of the company’s stock valued at $125,000 after buying an additional 1,038 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in APi Group in the third quarter valued at $152,000. Leverty Financial Group LLC acquired a new position in APi Group during the fourth quarter worth $219,000. Finally, Jag Capital Management LLC bought a new position in shares of APi Group during the third quarter valued at $239,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Trading Up 1.1 %

APG stock opened at $38.09 on Friday. The company has a 50 day moving average price of $37.90 and a 200 day moving average price of $33.12. APi Group Co. has a fifty-two week low of $21.65 and a fifty-two week high of $39.98. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.35 and a current ratio of 1.43.

APi Group (NYSE:APG) last released its earnings results on Wednesday, February 28th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 20.24% and a net margin of 2.21%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts anticipate that APi Group Co. will post 1.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup upped their target price on shares of APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 8th. UBS Group raised their price objective on shares of APi Group from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Royal Bank of Canada boosted their target price on APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a report on Monday, April 8th. Barclays lifted their price objective on APi Group from $37.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird increased their target price on APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, APi Group presently has an average rating of “Moderate Buy” and an average price target of $44.29.

Insiders Place Their Bets

In other news, CFO Kevin Krumm sold 5,585 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.72, for a total value of $199,496.20. Following the transaction, the chief financial officer now owns 34,180 shares of the company’s stock, valued at approximately $1,220,909.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James E. Lillie sold 125,000 shares of APi Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $38.38, for a total transaction of $4,797,500.00. Following the completion of the sale, the director now directly owns 5,455,411 shares of the company’s stock, valued at $209,378,674.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Krumm sold 5,585 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.72, for a total value of $199,496.20. Following the completion of the transaction, the chief financial officer now directly owns 34,180 shares in the company, valued at approximately $1,220,909.60. The disclosure for this sale can be found here. Company insiders own 16.40% 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.