Cerity Partners LLC Decreases Stake in APi Group Co. (NYSE:APG)

Cerity Partners LLC trimmed its holdings in shares of APi Group Co. (NYSE:APG) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,936 shares of the company’s stock after selling 5,232 shares during the quarter. Cerity Partners LLC’s holdings in APi Group were worth $2,346,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Artisan Partners Limited Partnership purchased a new stake in APi Group during the 4th quarter worth approximately $125,407,000. Norges Bank acquired a new stake in shares of APi Group during the fourth quarter worth approximately $98,028,000. Handelsbanken Fonder AB increased its stake in shares of APi Group by 1,106.9% in the fourth quarter. Handelsbanken Fonder AB now owns 643,300 shares of the company’s stock worth $23,140,000 after buying an additional 590,000 shares during the last quarter. GW&K Investment Management LLC raised its holdings in APi Group by 19.7% in the fourth quarter. GW&K Investment Management LLC now owns 2,631,409 shares of the company’s stock valued at $94,652,000 after acquiring an additional 432,926 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in APi Group by 555.2% during the 4th quarter. LPL Financial LLC now owns 298,615 shares of the company’s stock valued at $10,741,000 after acquiring an additional 253,039 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity

In related news, Director James E. Lillie sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the transaction, the director now owns 1,046,203 shares in the company, valued at $39,724,327.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of recent analyst reports. Barclays cut their target price on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Citigroup reduced their target price on APi Group from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada upgraded APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, January 14th. UBS Group reduced their price objective on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Robert W. Baird increased their target price on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus target price of $43.14.

APi Group Stock Up 1.2 %

APi Group stock opened at $35.78 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51. APi Group Co. has a one year low of $30.76 and a one year high of $41.31. The company has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $36.37. The firm has a market capitalization of $9.88 billion, a P/E ratio of -18.16 and a beta of 1.55.

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.