Oppenheimer Asset Management Inc. Raises Holdings in APi Group Co. (NYSE:APG)

Oppenheimer Asset Management Inc. lifted its stake in APi Group Co. (NYSE:APG) by 37.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,116 shares of the company’s stock after purchasing an additional 17,030 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in APi Group were worth $2,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 1,930,059 shares during the last quarter. Swedbank AB lifted its position in APi Group by 21.1% during the 2nd 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 during the period. Duality Advisers LP purchased a new stake in APi Group during the 1st quarter valued at about $1,447,000. Capital World Investors increased its holdings in shares of APi Group by 794.6% in the fourth quarter. Capital World Investors now owns 1,185,771 shares of the company’s stock valued at $41,028,000 after purchasing an additional 1,053,222 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of 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 purchasing an additional 35,520 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction, the director now owns 5,678,779 shares in the company, valued at approximately $187,570,070.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction dated 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 hyperlink. Also, SVP Louis Lambert sold 6,333 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.45, for a total value of $205,505.85. Following the transaction, the senior vice president now owns 8,100 shares in the company, valued at $262,845. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,358 shares of company stock worth $11,653,157. 16.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped 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. Barclays decreased their price objective on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. 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 research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

APi Group Stock Performance

APG opened at $34.60 on Wednesday. The company has a market cap of $9.49 billion, a price-to-earnings ratio of -16.09, a PEG ratio of 0.99 and a beta of 1.56. The firm’s fifty day simple moving average is $35.22 and its two-hundred day simple moving average is $36.88. 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 52-week low of $24.61 and a 52-week high of $39.98.

APi Group (NYSE:APG) last posted 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. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm posted $0.41 EPS. APi Group’s revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that APi Group Co. will post 1.87 earnings per share for the current fiscal year.

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.