Renaissance Technologies LLC Has $19.38 Million Stock Position in APi Group Co. (NYSE:APG)

Renaissance Technologies LLC increased its holdings in shares of APi Group Co. (NYSE:APG) by 79.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 514,900 shares of the company’s stock after purchasing an additional 227,600 shares during the period. Renaissance Technologies LLC owned approximately 0.19% of APi Group worth $19,376,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in APG. Vanguard Group Inc. boosted its holdings in APi Group by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 20,790,443 shares of the company’s stock worth $719,349,000 after acquiring an additional 1,930,059 shares in the last quarter. Swedbank AB boosted its holdings in APi Group by 21.1% in the second quarter. Swedbank AB now owns 1,860,000 shares of the company’s stock worth $69,992,000 after acquiring an additional 324,000 shares in the last quarter. Duality Advisers LP bought a new position in APi Group in the first quarter worth approximately $1,447,000. Capital World Investors boosted its holdings in APi Group by 794.6% in the fourth quarter. Capital World Investors now owns 1,185,771 shares of the company’s stock worth $41,028,000 after acquiring an additional 1,053,222 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in APi Group by 192.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 53,950 shares of the company’s stock worth $2,121,000 after acquiring an additional 35,520 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Down 1.6 %

APG stock opened at $35.21 on Friday. APi Group Co. has a twelve month low of $24.61 and a twelve month high of $39.98. 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’s 50 day moving average is $35.08 and its 200-day moving average is $36.84. The firm has a market capitalization of $9.66 billion, a PE ratio of -16.38, a P/E/G ratio of 0.99 and a beta of 1.56.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. APi Group had a return on equity of 36.53% and a net margin of 2.81%. APi Group’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. Sell-side analysts expect that APi Group Co. will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction on 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 sale, the director now directly owns 5,678,779 shares in the company, valued at $187,570,070.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction on 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 $187,570,070.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Louis Lambert sold 5,679 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $36.04, for a total value of $204,671.16. Following the completion of the sale, the senior vice president now directly owns 2,421 shares of the company’s stock, valued at $87,252.84. 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. 16.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

APG has been the topic of several recent research reports. Barclays cut their price target on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird dropped their target price on APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.