Point72 Hong Kong Ltd Takes Position in APi Group Co. (NYSE:APG)

Point72 Hong Kong Ltd purchased a new stake in shares of APi Group Co. (NYSE:APG) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,800 shares of the company’s stock, valued at approximately $444,000.

Other hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of APi Group by 43.8% during the fourth 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 last quarter. Whittier Trust Co. raised its position in shares of APi Group by 100.9% during the first quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock worth $59,000 after acquiring an additional 752 shares during the last quarter. J.Safra Asset Management Corp raised its position in shares of APi Group by 81.3% during the first quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock worth $68,000 after acquiring an additional 776 shares during the last quarter. Motco bought a new position in shares of APi Group during the first quarter worth about $83,000. Finally, Triad Wealth Partners LLC bought a new position in shares of APi Group during the second quarter worth about $132,000. 86.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

APi Group Trading Up 3.0 %

Shares of APG stock opened at $33.96 on Friday. 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 Co. has a fifty-two week low of $24.61 and a fifty-two week high of $39.98. The stock has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $36.72. The company has a market cap of $9.33 billion, a P/E ratio of -15.80 and a beta of 1.56.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that APi Group Co. will post 1.86 earnings per share for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, SVP Louis Lambert sold 5,679 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $36.04, for a total value 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 $87,252.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Louis Lambert sold 5,679 shares of APi Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $36.04, for a total transaction of $204,671.16. Following the transaction, the senior vice president now owns 2,421 shares of the company’s stock, valued at $87,252.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin E. Franklin sold 178,346 shares of APi Group stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the transaction, the director now directly owns 14,267,479 shares in the company, valued at approximately $503,071,309.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,358 shares of company stock valued at $11,653,157. Company insiders own 16.40% of the company’s stock.

APi Group Company 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.