M&T Bank Corp increased its position in APi Group Co. (NYSE:APG – Get Rating) by 100.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,622 shares of the company's stock after buying an additional 40,311 shares during the quarter. M&T Bank Corp's holdings in APi Group were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in shares of APi Group in the 1st quarter worth $1,613,000. IndexIQ Advisors LLC purchased a new position in shares of APi Group in the 1st quarter worth $391,000. California Public Employees Retirement System raised its position in shares of APi Group by 10.5% in the 1st quarter. California Public Employees Retirement System now owns 260,168 shares of the company's stock worth $5,471,000 after buying an additional 24,644 shares during the period. Advisor Group Holdings Inc. raised its position in shares of APi Group by 229.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 50,598 shares of the company's stock worth $1,064,000 after buying an additional 35,260 shares during the period. Finally, Wolverine Asset Management LLC raised its position in shares of APi Group by 36.4% in the 1st quarter. Wolverine Asset Management LLC now owns 75,000 shares of the company's stock worth $1,577,000 after buying an additional 20,000 shares during the period.
Get APi Group alerts:Wall Street Analyst Weigh In
Several research analysts have commented on the company. Bank of America raised APi Group from a "neutral" rating to a "buy" rating and set a $23.00 price objective on the stock in a research report on Monday, July 11th. Barclays cut their price objective on APi Group from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Friday, July 8th. JPMorgan Chase & Co. began coverage on APi Group in a research report on Friday, June 17th. They issued a "neutral" rating and a $17.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on APi Group from $24.00 to $18.00 in a research report on Monday, July 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, APi Group presently has an average rating of "Moderate Buy" and an average target price of $22.17.
Insider Buying and Selling
In other news, Director Anthony E. Malkin purchased 12,600 shares of the firm's stock in a transaction that occurred on Friday, June 17th. The stock was acquired at an average cost of $14.47 per share, for a total transaction of $182,322.00. Following the completion of the purchase, the director now 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 this hyperlink. Insiders own 13.70% of the company's stock.APi Group Stock Up 5.0 %
Shares of NYSE APG opened at $17.57 on Thursday. APi Group Co. has a 1 year low of $14.13 and a 1 year high of $26.84. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -25.46, a PEG ratio of 0.58 and a beta of 1.41. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.52 and a current ratio of 1.62. The stock's 50-day simple moving average is $16.18 and its 200-day simple moving average is $18.64.
APi Group (NYSE:APG – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. APi Group had a return on equity of 13.70% and a net margin of 1.08%. The company's revenue for the quarter was up 68.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. As a group, equities analysts anticipate that APi Group Co. will post 1.33 earnings per share for the current fiscal year.
APi Group Company Profile
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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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