State Street Corp Acquires 132,971 Shares of APi Group Co. (NYSE:APG)

State Street Corp raised its stake in shares of APi Group Co. (NYSE:APG - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,723,241 shares of the company's stock after acquiring an additional 132,971 shares during the period. State Street Corp owned approximately 1.35% of APi Group worth $122,941,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cooke & Bieler LP lifted its stake in APi Group by 218.9% in the 2nd quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company's stock valued at $108,545,000 after buying an additional 1,979,931 shares in the last quarter. Millennium Management LLC acquired a new stake in APi Group during the second quarter worth about $67,412,000. Janus Henderson Group PLC lifted its holdings in shares of APi Group by 19.2% in the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company's stock worth $277,079,000 after purchasing an additional 1,351,013 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of APi Group by 382.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,064,395 shares of the company's stock worth $40,053,000 after acquiring an additional 843,826 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of APi Group by 412.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,044,034 shares of the company's stock valued at $34,474,000 after buying an additional 840,452 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ian G. H. Ashken sold 53,868 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the transaction, the director now directly owns 5,478,779 shares of the company's stock, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Lillie sold 11,568 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the completion of the transaction, the director now owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. 18.20% of the stock is owned by company insiders.

APi Group Price Performance

Shares of APG traded down $0.57 during trading hours on Friday, hitting $37.63. 1,675,645 shares of the company were exchanged, compared to its average volume of 1,695,327. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The company has a market capitalization of $10.34 billion, a PE ratio of -19.10 and a beta of 1.55. The firm has a fifty day simple moving average of $35.74 and a 200-day simple moving average of $35.71. APi Group Co. has a one year low of $30.26 and a one year high of $40.89.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting analysts' consensus estimates of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter last year, the business posted $0.48 EPS. APi Group's revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that APi Group Co. will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APG. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $45.00 price objective on shares of APi Group in a report on Friday, November 1st. William Blair reaffirmed an "outperform" rating on shares of APi Group in a research note on Thursday, December 5th. Barclays boosted their target price on APi Group from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Robert W. Baird increased their price target on APi Group from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Finally, Citigroup boosted their price objective on APi Group from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.43.

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.