First Horizon Advisors Inc. Buys New Stake in APi Group Co. (NYSE:APG)

First Horizon Advisors Inc. purchased a new stake in shares of APi Group Co. (NYSE:APG) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 776 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently bought and sold shares of APG. Avior Wealth Management LLC bought a new stake in APi Group during the 3rd quarter valued at approximately $33,000. Quest Partners LLC bought a new stake in shares of APi Group in the third quarter valued at approximately $216,000. Swiss National Bank grew its stake in shares of APi Group by 4.0% in the third quarter. Swiss National Bank now owns 401,500 shares of the company’s stock worth $13,258,000 after acquiring an additional 15,600 shares during the last quarter. Natixis Advisors LLC increased its position in APi Group by 16.2% during the third quarter. Natixis Advisors LLC now owns 240,617 shares of the company’s stock worth $7,945,000 after acquiring an additional 33,630 shares during the period. Finally, OneDigital Investment Advisors LLC raised its stake in APi Group by 23.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,516 shares of the company’s stock valued at $248,000 after purchasing an additional 1,421 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors.

APi Group Stock Up 3.4 %

APG opened at $38.25 on Tuesday. APi Group Co. has a twelve month low of $29.75 and a twelve month high of $39.98. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of -19.42 and a beta of 1.54. The firm’s 50-day simple moving average is $34.46 and its 200-day simple moving average is $35.52. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm 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 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that APi Group Co. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction dated 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 directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $427,784.64. Following the sale, the director now directly owns 1,134,635 shares in the company, valued at $41,958,802.30. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on APG. Robert W. Baird decreased their price target on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays raised their price objective on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of APi Group in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

APi Group 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.