Oppenheimer Asset Management Inc. Purchases 17,030 Shares of APi Group Co. (NYSE:APG)

Oppenheimer Asset Management Inc. lifted its stake in APi Group Co. (NYSE:APG - Free Report) by 37.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,116 shares of the company's stock after buying an additional 17,030 shares during the period. Oppenheimer Asset Management Inc.'s holdings in APi Group were worth $2,337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of APi Group by 6,312.4% during the 1st quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company's stock worth $191,822,000 after purchasing an additional 4,808,536 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in APi Group in the 4th quarter valued at $159,751,000. Blackstone Inc. bought a new position in shares of APi Group during the 1st quarter worth about $139,191,000. Gates Capital Management Inc. bought a new stake in APi Group in the fourth quarter valued at about $111,729,000. Finally, Capital Research Global Investors raised its position in APi Group by 271.2% in the first quarter. Capital Research Global Investors now owns 4,321,383 shares of the company's stock worth $169,701,000 after purchasing an additional 3,157,283 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

APi Group Price Performance

APG traded up $0.12 during trading on Wednesday, hitting $34.72. The company's stock had a trading volume of 1,042,572 shares, compared to its average volume of 1,674,579. 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 $9.52 billion, a price-to-earnings ratio of -16.04, a price-to-earnings-growth ratio of 0.99 and a beta of 1.56. The firm's 50 day moving average price is $35.22 and its two-hundred day moving average price is $36.88. APi Group Co. has a 12 month low of $24.61 and a 12 month high of $39.98.

APi Group (NYSE:APG - Get Free Report) last issued 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. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Sell-side analysts forecast that APi Group Co. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at APi Group

In related news, SVP Louis Lambert sold 6,333 shares of the business's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.45, for a total value of $205,505.85. Following the completion of the transaction, the senior vice president now owns 8,100 shares in the company, valued at approximately $262,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Martin E. Franklin sold 178,346 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the transaction, the director now owns 14,267,479 shares of the company's stock, valued at approximately $503,071,309.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Louis Lambert sold 6,333 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.45, for a total transaction of $205,505.85. Following the sale, the senior vice president now directly owns 8,100 shares of the company's stock, valued at $262,845. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,358 shares of company stock worth $11,653,157. Corporate insiders own 16.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on APi Group from $37.00 to $34.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Barclays decreased their price target on APi Group from $44.00 to $43.00 and set an "overweight" rating on the stock in a research note on Monday, August 5th. Finally, Robert W. Baird dropped their price objective on APi Group from $43.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.