Raymond James Financial Inc. Buys New Stake in APi Group Co. (NYSE:APG)

Raymond James Financial Inc. bought a new stake in APi Group Co. (NYSE:APG) in the fourth quarter, HoldingsChannel.com reports. The fund bought 206,470 shares of the company’s stock, valued at approximately $7,427,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arizona State Retirement System grew its holdings in shares of APi Group by 0.9% in the fourth quarter. Arizona State Retirement System now owns 59,792 shares of the company’s stock valued at $2,151,000 after purchasing an additional 558 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of APi Group by 1.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 77,286 shares of the company’s stock valued at $2,780,000 after purchasing an additional 1,322 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in APi Group during the fourth quarter worth $511,000. M&T Bank Corp increased its position in APi Group by 9.5% during the fourth quarter. M&T Bank Corp now owns 116,438 shares of the company’s stock valued at $4,188,000 after acquiring an additional 10,107 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its stake in shares of APi Group by 215.1% in the fourth quarter. J.Safra Asset Management Corp now owns 6,630 shares of the company’s stock valued at $239,000 after acquiring an additional 4,526 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APG. Citigroup lowered their target price on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group dropped their target price on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Tuesday, January 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.43.

APi Group Stock Performance

APG stock opened at $37.14 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $37.79 and its two-hundred day simple moving average is $36.25. APi Group Co. has a twelve month low of $31.44 and a twelve month high of $41.31. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of -18.85 and a beta of 1.54.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 50,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the transaction, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.20% 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.