Raymond James & Associates Grows Stake in APi Group Co. (NYSE:APG)

Raymond James & Associates lifted its stake in APi Group Co. (NYSE:APG) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,599 shares of the company’s stock after buying an additional 16,746 shares during the period. Raymond James & Associates’ holdings in APi Group were worth $5,441,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of APG. Nomura Asset Management Co. Ltd. boosted its holdings 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. lifted its holdings in APi Group by 100.9% in the 1st quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock worth $59,000 after buying an additional 752 shares in the last quarter. J.Safra Asset Management Corp boosted 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 valued at $68,000 after buying an additional 776 shares during the last quarter. Motco acquired a new stake in shares of APi Group during the first quarter valued at about $83,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of APi Group during the second quarter worth about $132,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity

In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Louis Lambert sold 6,333 shares of APi Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.45, for a total value of $205,505.85. Following the sale, the senior vice president now directly owns 8,100 shares in the company, valued at approximately $262,845. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,292,140 shares of company stock valued at $86,113,640. 16.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

APG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays decreased their price target on shares of 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, Robert W. Baird cut their price target 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.86.

APi Group Stock Performance

Shares of APG opened at $35.09 on Thursday. The stock has a market capitalization of $9.62 billion, a PE ratio of -16.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.57. The business’s fifty day moving average price is $36.24 and its 200 day moving average price is $37.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.35 and a quick ratio of 1.26. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98.

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

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.