Rhumbline Advisers Reduces Holdings in APi Group Co. (NYSE:APG)

Rhumbline Advisers trimmed its holdings in shares of APi Group Co. (NYSE:APG) by 26.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,200 shares of the company’s stock after selling 82,332 shares during the period. Rhumbline Advisers’ holdings in APi Group were worth $8,662,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of APG. Nomura Asset Management Co. Ltd. grew its stake in APi Group by 43.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company’s stock worth $44,000 after acquiring an additional 390 shares during the period. Whittier Trust Co. grew its stake 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 during the period. J.Safra Asset Management Corp grew its stake in shares of APi Group by 81.3% during the 1st quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock valued at $68,000 after buying an additional 776 shares during the period. Motco acquired a new position in shares of APi Group during the 1st quarter valued at $83,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of APi Group during the 2nd quarter valued at $132,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at APi Group

In related news, SVP Louis Lambert sold 5,679 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $36.04, for a total transaction of $204,671.16. Following the completion of the sale, the senior vice president now owns 2,421 shares of the company’s stock, valued at approximately $87,252.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Louis Lambert sold 5,679 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $36.04, for a total transaction of $204,671.16. Following the completion of the sale, the senior vice president now owns 2,421 shares of the company’s stock, valued at approximately $87,252.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 2,292,140 shares of company stock valued at $86,113,640. Insiders own 16.40% of the company’s stock.

APi Group Price Performance

APG opened at $34.04 on Friday. The company has a 50-day moving average of $35.35 and a 200-day moving average of $36.89. The company has a market capitalization of $9.34 billion, a P/E ratio of -15.83, a PEG ratio of 0.96 and a beta of 1.56. APi Group Co. has a 1-year low of $24.61 and a 1-year high of $39.98. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.48.

APi Group (NYSE:APG) last released its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. Equities analysts expect that APi Group Co. will post 1.87 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.