Millennium Management LLC Makes New $67.41 Million Investment in APi Group Co. (NYSE:APG)

Millennium Management LLC purchased a new stake in APi Group Co. (NYSE:APG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,791,441 shares of the company's stock, valued at approximately $67,412,000. Millennium Management LLC owned approximately 0.65% of APi Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisors LLC lifted its holdings in shares of APi Group by 1.1% during 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 in the last quarter. Commonwealth Equity Services LLC raised its position in shares of APi Group by 0.3% in the second quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company's stock valued at $4,091,000 after buying an additional 323 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of APi Group by 4.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company's stock valued at $278,000 after buying an additional 333 shares during the period. J.Safra Asset Management Corp raised its holdings in APi Group by 21.5% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company's stock valued at $79,000 after acquiring an additional 373 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in APi Group by 43.8% during 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. 86.62% of the stock is owned by institutional investors.

Insider Activity at APi Group

In other APi Group news, SVP Louis Lambert sold 6,333 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 8,100 shares in the company, valued at approximately $262,845. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other APi Group news, SVP Louis Lambert sold 6,333 shares of the business's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.45, for a total value of $205,505.85. Following the transaction, the senior vice president now owns 8,100 shares of the company's stock, valued at $262,845. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $33.03, for a total value of $4,954,500.00. Following the completion of the sale, the director now directly owns 5,678,779 shares of the company's stock, valued at approximately $187,570,070.37. The disclosure for this sale can be found here. Insiders have sold a total of 340,358 shares of company stock valued at $11,653,157 over the last 90 days. Insiders own 16.40% of the company's stock.

Analyst Ratings Changes

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

APi Group Stock Down 2.4 %

Shares of APG traded down $0.81 during trading hours on Monday, reaching $32.83. The stock had a trading volume of 689,585 shares, compared to its average volume of 1,742,340. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The firm has a 50-day simple moving average of $34.74 and a 200 day simple moving average of $36.64. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of -15.65 and a beta of 1.56. 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 released its quarterly earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. Equities research analysts predict 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.