Corsair Capital Management L.P. Reduces Stock Holdings in APi Group Co. (NYSE:APG)

Corsair Capital Management L.P. decreased its holdings in APi Group Co. (NYSE:APG - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 509,384 shares of the company's stock after selling 15,078 shares during the quarter. APi Group accounts for about 4.0% of Corsair Capital Management L.P.'s investment portfolio, making the stock its 9th largest position. Corsair Capital Management L.P. owned approximately 0.19% of APi Group worth $16,820,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in APG. Allspring Global Investments Holdings LLC raised its holdings in shares of APi Group by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company's stock valued at $227,881,000 after purchasing an additional 324,544 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of APi Group by 218.9% during the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company's stock worth $108,545,000 after purchasing an additional 1,979,931 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of APi Group by 65.8% during the second quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company's stock worth $95,707,000 after purchasing an additional 1,009,328 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of APi Group by 7.6% during the second quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company's stock worth $92,743,000 after buying an additional 173,544 shares during the last quarter. Finally, M.D. Sass LLC raised its stake in shares of APi Group by 7.5% during the third quarter. M.D. Sass LLC now owns 2,313,473 shares of the company's stock worth $76,391,000 after buying an additional 160,595 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on APG. JPMorgan Chase & Co. lowered their target price on shares of 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 upped their price target on shares of APi Group from $43.00 to $44.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price target on shares of APi Group in a report on Friday, November 1st. Finally, Robert W. Baird upped their price target on shares of APi Group from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.71.

Insiders Place Their Bets

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

APi Group Stock Performance

NYSE:APG traded down $0.08 during mid-day trading on Wednesday, reaching $37.55. 853,598 shares of the company's stock were exchanged, compared to its average volume of 1,706,542. APi Group Co. has a one year low of $29.75 and a one year high of $39.98. The firm has a market capitalization of $10.32 billion, a PE ratio of -19.06 and a beta of 1.54. The business's fifty day simple moving average is $34.58 and its two-hundred day simple moving average is $35.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company posted $0.48 EPS. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that APi Group Co. will post 1.86 earnings per share for the current fiscal 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.