Point72 Asset Management L.P. Sells 989,495 Shares of APi Group Co. (NYSE:APG)

Point72 Asset Management L.P. lessened its stake in shares of APi Group Co. (NYSE:APG - Free Report) by 93.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,900 shares of the company's stock after selling 989,495 shares during the quarter. Point72 Asset Management L.P.'s holdings in APi Group were worth $2,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in APG. Janus Henderson Group PLC boosted its position in APi Group by 19.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company's stock valued at $277,079,000 after buying an additional 1,351,013 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of APi Group by 4.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company's stock worth $227,881,000 after purchasing an additional 324,544 shares during the period. Cooke & Bieler LP grew its stake in shares of APi Group by 218.9% in the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company's stock worth $108,545,000 after purchasing an additional 1,979,931 shares during the last quarter. Select Equity Group L.P. increased its holdings in APi Group by 7.6% during the 2nd quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company's stock valued at $92,743,000 after purchasing an additional 173,544 shares during the period. Finally, M.D. Sass LLC increased its holdings in APi Group by 7.5% during the 3rd quarter. M.D. Sass LLC now owns 2,313,473 shares of the company's stock valued at $76,391,000 after purchasing an additional 160,595 shares during the period. Institutional investors own 86.62% of the company's stock.

Insider Activity at APi Group

In other APi Group news, Director James E. Lillie sold 11,568 shares of APi Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the sale, the director now owns 1,134,635 shares of the company's stock, valued at approximately $41,958,802.30. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ian G. H. Ashken sold 53,868 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the transaction, the director now directly owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by insiders.

APi Group Stock Up 0.5 %

Shares of APi Group stock traded up $0.19 during trading on Tuesday, hitting $39.31. The company's stock had a trading volume of 537,418 shares, compared to its average volume of 1,687,838. APi Group Co. has a 52 week low of $30.26 and a 52 week high of $40.89. The company has a fifty day simple moving average of $35.23 and a two-hundred day simple moving average of $35.64. The company has a market capitalization of $10.80 billion, a PE ratio of -19.82 and a beta of 1.55. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, meeting analysts' consensus estimates of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company earned $0.48 EPS. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts predict that APi Group Co. will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APG shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price objective on shares of APi Group in a research report on Friday, November 1st. Robert W. Baird lifted their price target on shares of APi Group from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Citigroup upped their price objective on shares of APi Group from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Barclays raised their target price on shares of APi Group from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, William Blair reiterated an "outperform" rating on shares of APi Group in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.43.

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.