Assenagon Asset Management S.A. Sells 107,023 Shares of APi Group Co. (NYSE:APG)

Assenagon Asset Management S.A. cut its position in APi Group Co. (NYSE:APG - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 937,011 shares of the company's stock after selling 107,023 shares during the quarter. Assenagon Asset Management S.A. owned about 0.34% of APi Group worth $33,704,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in shares of APi Group in the third quarter worth $26,000. Avior Wealth Management LLC purchased a new stake in shares of APi Group during the 3rd quarter valued at $33,000. ORG Wealth Partners LLC purchased a new position in APi Group in the fourth quarter worth $34,000. SG Americas Securities LLC bought a new position in APi Group in the third quarter valued at $165,000. Finally, KBC Group NV lifted its stake in APi Group by 14.8% during the third quarter. KBC Group NV now owns 5,601 shares of the company's stock worth $185,000 after purchasing an additional 721 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of recent research reports. Citigroup lowered their price objective on shares of APi Group from $45.00 to $43.00 and set a "buy" rating for the company in a report on Monday. Barclays raised their price target on APi Group from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Royal Bank of Canada upgraded shares of APi Group from a "sector perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research report on Tuesday. William Blair reiterated an "outperform" rating on shares of APi Group in a report on Thursday, December 5th. Finally, Robert W. Baird raised their target price on APi Group from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.14.

APi Group Stock Performance

APi Group stock traded up $0.11 during mid-day trading on Friday, reaching $37.50. 989,240 shares of the stock traded hands, compared to its average volume of 1,211,922. The stock has a market capitalization of $10.30 billion, a PE ratio of -19.03 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. The business's 50-day moving average is $37.06 and its 200-day moving average is $35.56. APi Group Co. has a 12-month low of $31.26 and a 12-month high of $40.89.

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

Insider Activity at APi Group

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 stock was sold at an average price of $36.87, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Lillie sold 11,568 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the transaction, the director now owns 1,134,635 shares of the company's stock, 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 currently owned by corporate insiders.

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.