Everence Capital Management Inc. Takes $288,000 Position in APi Group Co. (NYSE:APG)

Everence Capital Management Inc. purchased a new position in shares of APi Group Co. (NYSE:APG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,020 shares of the company’s stock, valued at approximately $288,000.

Several other large investors have also bought and sold shares of APG. Janus Henderson Group PLC raised its position in shares of APi Group by 19.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock valued at $277,079,000 after acquiring an additional 1,351,013 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in APi Group by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock valued at $227,881,000 after purchasing an additional 324,544 shares during the last quarter. Geode Capital Management LLC lifted its stake in APi Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 3,730,499 shares of the company’s stock valued at $123,217,000 after buying an additional 106,119 shares during the period. State Street Corp boosted its holdings in APi Group by 3.7% during the third quarter. State Street Corp now owns 3,723,241 shares of the company’s stock worth $122,941,000 after buying an additional 132,971 shares during the last quarter. Finally, Select Equity Group L.P. grew its position in shares of APi Group by 7.6% during the 2nd quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock worth $92,743,000 after buying an additional 173,544 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of APi Group from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays increased their target price on shares of APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. William Blair restated an “outperform” rating on shares of APi Group in a research report on Thursday, December 5th. Robert W. Baird lifted their target price on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 target price on shares of APi Group in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.43.

APi Group Stock Performance

APG opened at $37.02 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of -18.79 and a beta of 1.55. The business’s 50-day moving average price is $36.88 and its two-hundred day moving average price is $35.60. APi Group Co. has a 1 year low of $30.75 and a 1 year high of $40.89.

APi Group (NYSE:APG) last announced its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.87 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. APi Group’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 EPS. Equities analysts expect that APi Group Co. will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James E. Lillie sold 11,568 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the sale, the director now owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the transaction, the director now owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by corporate insiders.

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.