Element Capital Management LLC Acquires New Holdings in APi Group Co. (NYSE:APG)

Element Capital Management LLC bought a new position in APi Group Co. (NYSE:APG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 62,076 shares of the company's stock, valued at approximately $2,336,000. APi Group comprises approximately 0.2% of Element Capital Management LLC's investment portfolio, making the stock its 26th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cetera Advisors LLC lifted its stake in shares of APi Group by 1.1% in the first quarter. Cetera Advisors LLC now owns 27,242 shares of the company's stock worth $1,070,000 after buying an additional 287 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in APi Group by 0.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company's stock worth $4,091,000 after acquiring an additional 323 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in APi Group by 4.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company's stock valued at $278,000 after acquiring an additional 333 shares during the period. J.Safra Asset Management Corp grew its position in shares of APi Group by 21.5% in the second quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company's stock valued at $79,000 after purchasing an additional 373 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of APi Group by 43.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company's stock worth $44,000 after purchasing an additional 390 shares during the period. Institutional investors own 86.62% of the company's stock.

Analysts Set New Price Targets

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

APi Group Trading Up 1.3 %

APi Group stock traded up $0.44 during midday trading on Friday, hitting $34.47. 585,013 shares of the stock were exchanged, compared to its average volume of 1,687,618. APi Group Co. has a 52 week low of $24.61 and a 52 week high of $39.98. 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 $9.45 billion, a PE ratio of -16.03, a P/E/G ratio of 0.99 and a beta of 1.56. The company has a fifty day simple moving average of $35.30 and a two-hundred day simple moving average of $36.90.

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

Insider Activity at APi Group

In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other APi Group news, SVP Louis Lambert sold 5,679 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $36.04, for a total value of $204,671.16. Following the transaction, the senior vice president now directly owns 2,421 shares in the company, valued at $87,252.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the company's stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,292,140 shares of company stock valued at $86,113,640. 16.40% of the stock is owned by 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.