Metropolitan Life Insurance Co NY lessened its stake in shares of APi Group Co. (NYSE:APG – Get Rating) by 75.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,604 shares of the company's stock after selling 39,430 shares during the period. Metropolitan Life Insurance Co NY's holdings in APi Group were worth $265,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in APG. Advisor Group Holdings Inc. grew its position in APi Group by 229.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 50,598 shares of the company's stock valued at $1,064,000 after purchasing an additional 35,260 shares during the last quarter. Pictet Asset Management SA bought a new stake in shares of APi Group during the fourth quarter valued at approximately $220,000. Teacher Retirement System of Texas raised its holdings in APi Group by 22.3% in the 4th quarter. Teacher Retirement System of Texas now owns 27,591 shares of the company's stock worth $711,000 after acquiring an additional 5,033 shares during the last quarter. Forager Funds Management Pty Ltd bought a new position in APi Group in the 4th quarter valued at approximately $4,940,000. Finally, Loomis Sayles & Co. L P boosted its stake in APi Group by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 734,074 shares of the company's stock valued at $18,917,000 after purchasing an additional 137,386 shares during the last quarter. Hedge funds and other institutional investors own 73.28% of the company's stock.
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APi Group Price Performance
NYSE APG opened at $15.53 on Thursday. The company has a 50-day moving average price of $16.36 and a 200-day moving average price of $17.91. APi Group Co. has a 52 week low of $14.13 and a 52 week high of $26.84. The company has a quick ratio of 1.52, a current ratio of 1.62 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $3.62 billion, a P/E ratio of -22.51, a PEG ratio of 0.53 and a beta of 1.46.
APi Group (NYSE:APG – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a net
margin of 1.08% and a return on equity of 13.70%. The firm's revenue was up 68.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Equities research analysts anticipate that APi Group Co. will post 1.33 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on APG. JPMorgan Chase & Co. began coverage on APi Group in a report on Friday, June 17th. They set a "neutral" rating and a $17.00 price target on the stock. Bank of America raised shares of APi Group from a "neutral" rating to a "buy" rating and set a $23.00 price target on the stock in a report on Monday, July 11th. Royal Bank of Canada decreased their price objective on shares of APi Group from $24.00 to $18.00 in a report on Monday, July 11th. Finally, Barclays dropped their target price on shares of APi Group from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.17.
Insider Activity at APi Group
In related news, Director Anthony E. Malkin acquired 12,600 shares of the firm's stock in a transaction dated Friday, June 17th. The shares were purchased at an average price of $14.47 per share, with a total value of $182,322.00. Following the completion of the purchase, the director now directly owns 34,396 shares of the company's stock, valued at $497,710.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.70% of the stock is owned by company insiders.
About APi Group
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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.
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