Rice Hall James & Associates LLC Lowers Stake in APi Group Co. (NYSE:APG)

Rice Hall James & Associates LLC cut its stake in shares of APi Group Co. (NYSE:APG - Free Report) by 23.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,859 shares of the company's stock after selling 31,864 shares during the quarter. Rice Hall James & Associates LLC's holdings in APi Group were worth $3,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of APG. Wealth Enhancement Advisory Services LLC bought a new stake in shares of APi Group in the first quarter valued at about $884,000. Janney Montgomery Scott LLC purchased a new position in APi Group during the first quarter valued at approximately $221,000. Daiwa Securities Group Inc. bought a new position in APi Group in the first quarter worth approximately $235,000. Chase Investment Counsel Corp lifted its holdings in APi Group by 2.2% during the first quarter. Chase Investment Counsel Corp now owns 59,618 shares of the company's stock worth $2,341,000 after buying an additional 1,296 shares during the period. Finally, Whittier Trust Co. boosted its position in APi Group by 100.9% during the 1st quarter. Whittier Trust Co. now owns 1,497 shares of the company's stock valued at $59,000 after acquiring an additional 752 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Performance

Shares of NYSE APG traded up $1.20 during midday trading on Friday, reaching $35.34. The company had a trading volume of 2,693,056 shares, compared to its average volume of 1,433,719. APi Group Co. has a 1 year low of $25.51 and a 1 year high of $39.98. The business's 50-day simple moving average is $33.76 and its 200 day simple moving average is $35.67. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, hitting analysts' consensus estimates of $0.51. APi Group had a return on equity of 35.88% and a net margin of 3.01%. The company had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that APi Group Co. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the sale, the director now directly owns 5,678,779 shares in the company, valued at approximately $187,570,070.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other APi Group news, 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 transaction of $4,954,500.00. Following the completion of the transaction, the director now owns 5,678,779 shares in the company, valued at approximately $187,570,070.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martin E. Franklin sold 178,346 shares of the company's 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 completion of the sale, the director now owns 14,267,479 shares in the company, valued at $503,071,309.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,358 shares of company stock worth $11,653,157. 18.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APG shares. JPMorgan Chase & Co. reduced their target price on shares of APi Group from $37.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. Robert W. Baird decreased their target price 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. Royal Bank of Canada restated a "sector perform" rating and issued a $45.00 target price on shares of APi Group in a research note on Friday. Finally, Barclays reduced 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, APi Group 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.