M&T Bank Corp Raises Stake in APi Group Co. (NYSE:APG)

M&T Bank Corp raised its position in APi Group Co. (NYSE:APG) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,799 shares of the company’s stock after acquiring an additional 627 shares during the quarter. M&T Bank Corp’s holdings in APi Group were worth $3,315,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in APG. Toronto Dominion Bank acquired a new stake in APi Group during the third quarter worth approximately $30,000. Signaturefd LLC raised its holdings in APi Group by 40.2% during the fourth quarter. Signaturefd LLC now owns 3,617 shares of the company’s stock worth $125,000 after purchasing an additional 1,038 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in APi Group during the third quarter worth approximately $152,000. Leverty Financial Group LLC acquired a new stake in APi Group during the fourth quarter worth approximately $219,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in APi Group by 41.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,612 shares of the company’s stock worth $229,000 after purchasing an additional 1,937 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on APG. Jefferies Financial Group began coverage on shares of APi Group in a report on Friday, March 15th. They issued a “buy” rating and a $48.00 target price on the stock. TheStreet cut shares of APi Group from a “b” rating to a “c+” rating in a report on Wednesday, February 28th. Barclays lifted their target price on shares of APi Group from $37.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on shares of APi Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird boosted their price objective on shares of APi Group from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Insider Buying and Selling at APi Group

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

APi Group Price Performance

Shares of NYSE APG opened at $37.82 on Wednesday. The firm has a market capitalization of $10.37 billion, a P/E ratio of -17.59, a PEG ratio of 1.09 and a beta of 1.62. APi Group Co. has a one year low of $21.74 and a one year high of $39.98. The company’s fifty day moving average is $38.22 and its two-hundred day moving average is $33.72. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.35.

APi Group (NYSE:APG) last issued its earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue was down .8% on a year-over-year basis. Analysts forecast that APi Group Co. will post 1.87 EPS for the current fiscal year.

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.