Royal London Asset Management Ltd. Takes $3.52 Million Position in APi Group Co. (NYSE:APG)

Royal London Asset Management Ltd. acquired a new stake in APi Group Co. (NYSE:APG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 93,497 shares of the company’s stock, valued at approximately $3,518,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Choreo LLC boosted its holdings in shares of APi Group by 1.8% in the second quarter. Choreo LLC now owns 53,065 shares of the company’s stock valued at $1,928,000 after acquiring an additional 930 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of APi Group by 3,622.0% in the second quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock valued at $148,000 after acquiring an additional 382,012 shares in the last quarter. Advisor OS LLC boosted its holdings in shares of APi Group by 2.4% in the second quarter. Advisor OS LLC now owns 78,544 shares of the company’s stock valued at $2,956,000 after acquiring an additional 1,867 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of APi Group by 9.3% in the second quarter. Arizona State Retirement System now owns 54,934 shares of the company’s stock valued at $2,067,000 after acquiring an additional 4,671 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of APi Group by 24.3% in the second quarter. TD Asset Management Inc now owns 51,190 shares of the company’s stock valued at $1,926,000 after acquiring an additional 10,014 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird reduced their target price 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. Barclays reduced their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Insider Activity at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 5,678,779 shares in the company, valued at approximately $187,570,070.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.03, for a total value of $4,954,500.00. Following the transaction, the director now directly owns 5,678,779 shares of the company’s stock, valued at $187,570,070.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,292,140 shares of company stock valued at $86,113,640. Corporate insiders own 16.40% of the company’s stock.

APi Group Price Performance

APG opened at $34.47 on Friday. The firm has a market capitalization of $9.45 billion, a P/E ratio of -16.03, a PEG ratio of 0.99 and a beta of 1.56. The stock has a fifty day moving average of $35.30 and a 200-day moving average of $36.89. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98.

APi Group (NYSE:APG) last announced its quarterly earnings data 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 firm 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 business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Equities analysts forecast that APi Group Co. will post 1.87 EPS for the current fiscal year.

APi Group Profile

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.