Alliancebernstein L.P. lowered its stake in shares of APi Group Co. (NYSE:APG - Free Report) by 90.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,868 shares of the company's stock after selling 1,292,619 shares during the period. Alliancebernstein L.P.'s holdings in APi Group were worth $4,635,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in APG. Vanguard Group Inc. grew its stake in APi Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,124,584 shares of the company's stock valued at $831,791,000 after acquiring an additional 127,038 shares in the last quarter. Cooke & Bieler LP grew its position in shares of APi Group by 3.4% during the 4th quarter. Cooke & Bieler LP now owns 4,020,768 shares of the company's stock valued at $144,627,000 after purchasing an additional 132,713 shares in the last quarter. Geode Capital Management LLC grew its position in shares of APi Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,730,499 shares of the company's stock valued at $123,217,000 after purchasing an additional 106,119 shares in the last quarter. State Street Corp increased its holdings in shares of APi Group by 3.7% in the third quarter. State Street Corp now owns 3,723,241 shares of the company's stock worth $122,941,000 after purchasing an additional 132,971 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of APi Group in the fourth quarter worth $125,407,000. 86.62% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 1,046,203 shares of the company's stock, valued at approximately $39,724,327.91. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.20% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
APG has been the subject of several recent analyst reports. Citigroup reduced their target price on APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research report on Monday. UBS Group decreased their price objective on shares of APi Group from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada upgraded shares of APi Group from a "sector perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research report on Tuesday, January 14th. Robert W. Baird raised their price objective on shares of APi Group from $40.00 to $46.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Finally, Truist Financial reiterated a "buy" rating and issued a $48.00 target price (up 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.14.
Read Our Latest Stock Report on APi Group
APi Group Trading Up 1.2 %
NYSE APG traded up $0.43 during trading on Friday, hitting $34.85. 1,191,434 shares of the company's stock traded hands, compared to its average volume of 1,661,542. The stock has a fifty day moving average of $36.61 and a two-hundred day moving average of $36.39. APi Group Co. has a 12-month low of $30.76 and a 12-month high of $41.31. The firm has a market cap of $9.63 billion, a P/E ratio of -17.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.
About APi Group
(
Free Report)
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.
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