Amalgamated Bank Reduces Holdings in APi Group Co. (NYSE:APG)

Amalgamated Bank reduced its holdings in shares of APi Group Co. (NYSE:APG) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,088 shares of the company’s stock after selling 371 shares during the period. Amalgamated Bank’s holdings in APi Group were worth $399,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in APG. J.Safra Asset Management Corp raised its holdings in APi Group by 21.5% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company’s stock worth $79,000 after purchasing an additional 373 shares during the period. Triad Wealth Partners LLC bought a new position in shares of APi Group in the second quarter worth about $132,000. Strategic Financial Concepts LLC lifted its position 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 valued at $148,000 after buying an additional 382,012 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of APi Group during the 3rd quarter valued at approximately $165,000. Finally, Ellenbecker Investment Group increased its holdings in APi Group by 8.3% in the 2nd quarter. Ellenbecker Investment Group now owns 5,625 shares of the company’s stock worth $212,000 after acquiring an additional 433 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APG. JPMorgan Chase & Co. dropped their price target on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a research note on Friday, November 1st. Barclays boosted their price objective on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut their target price on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

APi Group Price Performance

NYSE:APG opened at $35.37 on Friday. The business’s 50-day moving average is $34.11 and its 200 day moving average is $35.57. APi Group Co. has a 12 month low of $28.97 and a 12 month high of $39.98. The company has a market capitalization of $9.72 billion, a P/E ratio of -17.95 and a beta of 1.54. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

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 the consensus estimate of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that APi Group Co. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the sale, the director now directly owns 5,478,779 shares of the company’s stock, valued at $202,002,581.73. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin E. Franklin sold 178,346 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 14,267,479 shares in the company, valued at approximately $503,071,309.54. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,461 shares of company stock worth $8,907,049. Corporate insiders own 18.20% of the company’s stock.

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.