Maryland State Retirement & Pension System Acquires Shares of 17,717 APi Group Co. (NYSE:APG)

Maryland State Retirement & Pension System purchased a new stake in shares of APi Group Co. (NYSE:APG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 17,717 shares of the company's stock, valued at approximately $667,000.

A number of other hedge funds have also recently modified their holdings of APG. Hantz Financial Services Inc. bought a new stake in APi Group during the 2nd quarter valued at about $497,000. Principal Financial Group Inc. boosted its holdings in shares of APi Group by 2.3% in the second quarter. Principal Financial Group Inc. now owns 101,733 shares of the company's stock valued at $3,828,000 after purchasing an additional 2,302 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of APi Group by 17.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,669 shares of the company's stock valued at $1,305,000 after purchasing an additional 5,031 shares during the period. Verdence Capital Advisors LLC grew its stake in APi Group by 4.5% in the second quarter. Verdence Capital Advisors LLC now owns 73,894 shares of the company's stock worth $2,781,000 after purchasing an additional 3,177 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in APi Group by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 891,139 shares of the company's stock worth $33,534,000 after purchasing an additional 73,573 shares during the period. Institutional investors own 86.62% of the company's stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director Martin E. Franklin sold 178,346 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the sale, the director now owns 14,267,479 shares of the company's stock, valued at approximately $503,071,309.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm's stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $38.15, for a total value of $74,460,483.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin E. Franklin sold 178,346 shares of APi Group stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total value of $6,288,479.96. Following the sale, the director now directly owns 14,267,479 shares of the company's stock, valued at approximately $503,071,309.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,292,140 shares of company stock worth $86,113,640. 16.40% of the stock is owned by insiders.

APi Group Stock Down 4.6 %

Shares of APi Group stock traded down $1.63 on Tuesday, reaching $33.92. The stock had a trading volume of 888,020 shares, compared to its average volume of 1,720,588. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $9.32 billion, a P/E ratio of -15.93, a P/E/G ratio of 1.04 and a beta of 1.57. The company has a 50 day moving average price of $36.00 and a 200 day moving average price of $37.01. APi Group Co. has a 1 year low of $24.61 and a 1 year high of $39.98.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that APi Group Co. will post 1.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on APi Group from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. cut their target price on shares of APi Group from $37.00 to $34.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on shares of APi Group from $43.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.86.

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.