Envestnet Portfolio Solutions Inc. Sells 1,389 Shares of APi Group Co. (NYSE:APG)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of APi Group Co. (NYSE:APG) by 18.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,099 shares of the company’s stock after selling 1,389 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in APi Group were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. raised its position in APi Group by 43.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company’s stock valued at $44,000 after purchasing an additional 390 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of APi Group by 100.9% during the 1st quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock valued at $59,000 after buying an additional 752 shares in the last quarter. J.Safra Asset Management Corp lifted its position in APi Group by 81.3% in the 1st quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock worth $68,000 after buying an additional 776 shares during the last quarter. Motco purchased a new stake in APi Group in the first quarter worth approximately $83,000. Finally, Signaturefd LLC grew its position in APi Group by 40.2% during the fourth quarter. Signaturefd LLC now owns 3,617 shares of the company’s stock valued at $125,000 after acquiring an additional 1,038 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

APi Group Trading Up 1.9 %

Shares of APG opened at $35.75 on Friday. The firm has a fifty day simple moving average of $36.35 and a two-hundred day simple moving average of $36.95. APi Group Co. has a twelve month low of $24.61 and a twelve month high of $39.98. The stock has a market capitalization of $9.81 billion, a P/E ratio of -16.63, a PEG ratio of 1.06 and a beta of 1.57. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 1.14.

APi Group (NYSE:APG) last posted its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. APi Group had a return on equity of 39.16% and a net margin of 2.81%. APi Group’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, research analysts anticipate that APi Group Co. will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APG. JPMorgan Chase & Co. lowered their price objective on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Robert W. Baird cut their price target on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Barclays decreased their price objective on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.86.

Insider Activity

In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $38.15, for a total transaction of $74,460,483.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the sale, the director now directly owns 5,678,779 shares of the company’s stock, valued at approximately $187,570,070.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,286,461 shares of company stock valued at $85,908,969. Company insiders own 16.40% of the company’s stock.

APi Group Profile

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.