Artemis Investment Management LLP Cuts Stock Position in APi Group Co. (NYSE:APG)

Artemis Investment Management LLP reduced its stake in shares of APi Group Co. (NYSE:APG) by 43.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,429,078 shares of the company’s stock after selling 1,114,297 shares during the quarter. Artemis Investment Management LLP owned 0.52% of APi Group worth $47,188,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Whittier Trust Co. grew its stake in shares of APi Group by 100.9% in the first quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock worth $59,000 after purchasing an additional 752 shares in the last quarter. J.Safra Asset Management Corp grew its position in APi Group by 81.3% in the first quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock worth $68,000 after buying an additional 776 shares during the last quarter. Motco bought a new position in shares of APi Group in the first quarter valued at $83,000. Triad Wealth Partners LLC acquired a new stake in shares of APi Group during the 2nd quarter valued at $132,000. Finally, Strategic Financial Concepts LLC boosted its stake in shares of APi Group by 3,622.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock worth $148,000 after acquiring an additional 382,012 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 178,346 shares of the business’s stock in a transaction on 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 sale, the director now owns 14,267,479 shares of the company’s stock, valued at $503,071,309.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Louis Lambert sold 6,333 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin E. Franklin sold 178,346 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,358 shares of company stock worth $11,653,157 over the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APG. Barclays dropped their target price on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

APi Group Stock Up 0.2 %

Shares of APG stock opened at $32.08 on Wednesday. The stock has a 50 day moving average of $34.15 and a 200-day moving average of $36.39. The firm has a market cap of $8.80 billion, a PE ratio of -14.92 and a beta of 1.55. 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 issued its quarterly earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts predict that APi Group Co. will post 1.86 EPS for the current 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.