Chase Investment Counsel Corp Purchases New Shares in APi Group Co. (NYSE:APG)

Chase Investment Counsel Corp acquired a new position in shares of APi Group Co. (NYSE:APG) during the fourth quarter, Holdings Channel reports. The fund acquired 58,322 shares of the company’s stock, valued at approximately $2,017,000.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of APi Group in the 3rd quarter worth approximately $869,000. Raymond James & Associates lifted its holdings in APi Group by 21.5% during the third quarter. Raymond James & Associates now owns 62,627 shares of the company’s stock worth $1,624,000 after acquiring an additional 11,096 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in APi Group by 35.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,096 shares of the company’s stock worth $988,000 after purchasing an additional 10,035 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in APi Group by 2.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 74,935 shares of the company’s stock valued at $1,943,000 after purchasing an additional 2,142 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in APi Group by 28.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,100 shares of the company’s stock valued at $703,000 after purchasing an additional 5,945 shares during the period. Institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APG shares. Royal Bank of Canada lifted their target price on APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, April 8th. Barclays boosted their target price on shares of APi Group from $37.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on shares of APi Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Robert W. Baird lifted their price target on shares of APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Finally, UBS Group increased their price objective on APi Group from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus price target of $44.29.

APi Group Stock Performance

Shares of APG stock traded up $0.24 during trading on Monday, reaching $38.33. 348,430 shares of the company’s stock traded hands, compared to its average volume of 1,557,816. The firm’s 50-day moving average is $37.90 and its 200 day moving average is $33.21. The company has a market capitalization of $10.03 billion, a P/E ratio of -50.43, a PEG ratio of 1.13 and a beta of 1.64. APi Group Co. has a 1 year low of $21.65 and a 1 year high of $39.98. The company has a current ratio of 1.43, a quick ratio of 1.35 and a debt-to-equity ratio of 1.12.

APi Group (NYSE:APG) last posted its earnings results on Wednesday, February 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 20.24% and a net margin of 2.21%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that APi Group Co. will post 1.87 EPS for the current year.

Insider Buying and Selling

In other APi Group news, CFO Kevin Krumm sold 5,585 shares of APi Group stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.72, for a total transaction of $199,496.20. Following the completion of the transaction, the chief financial officer now owns 34,180 shares of the company’s stock, valued at approximately $1,220,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other APi Group news, CFO Kevin Krumm sold 5,585 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.72, for a total value of $199,496.20. Following the sale, the chief financial officer now directly owns 34,180 shares in the company, valued at approximately $1,220,909.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Lillie sold 125,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $38.38, for a total transaction of $4,797,500.00. Following the completion of the transaction, the director now directly owns 5,455,411 shares of the company’s stock, valued at $209,378,674.18. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

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.