Cerity Partners LLC Buys 22,652 Shares of APi Group Co. (NYSE:APG)

Cerity Partners LLC raised its position in APi Group Co. (NYSE:APG) by 42.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,168 shares of the company’s stock after purchasing an additional 22,652 shares during the period. Cerity Partners LLC’s holdings in APi Group were worth $2,515,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Cooke & Bieler LP increased its stake in shares of APi Group by 218.9% during the 2nd 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. Millennium Management LLC bought a new position in shares of APi Group in the second quarter worth $67,412,000. Artemis Investment Management LLP boosted its position in shares of APi Group by 65.8% during the 2nd quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock worth $95,707,000 after acquiring an additional 1,009,328 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of APi Group by 382.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,064,395 shares of the company’s stock worth $40,053,000 after buying an additional 843,826 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in APi Group by 412.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,044,034 shares of the company’s stock worth $34,474,000 after purchasing an additional 840,452 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Performance

NYSE:APG opened at $37.78 on Monday. The business has a fifty day simple moving average of $34.66 and a two-hundred day simple moving average of $35.54. APi Group Co. has a 1 year low of $29.95 and a 1 year high of $39.98. The company has a market capitalization of $10.38 billion, a P/E ratio of -19.18 and a beta of 1.54. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, analysts expect that APi Group Co. will post 1.86 earnings per share for the current year.

Insider Activity

In other news, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the transaction, the director now directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the sale, the director now directly 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 disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports 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 report on Friday, November 1st. Barclays raised their price objective on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

APi Group Company 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.