Norges Bank Takes Position in APi Group Co. (NYSE:APG)

Norges Bank acquired a new position in shares of APi Group Co. (NYSE:APG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,227,481 shares of the company’s stock, valued at approximately $77,071,000. Norges Bank owned about 0.95% of APi Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in APG. Vanguard Group Inc. raised its holdings in shares of APi Group by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 18,860,384 shares of the company’s stock worth $489,050,000 after purchasing an additional 167,293 shares during the period. UBS Group AG increased its holdings in APi Group by 201.4% in the 3rd quarter. UBS Group AG now owns 229,231 shares of the company’s stock worth $5,944,000 after acquiring an additional 153,167 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in APi Group by 701.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 121,332 shares of the company’s stock valued at $4,198,000 after acquiring an additional 106,200 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in APi Group during the fourth quarter valued at about $670,000. Finally, Charles Schwab Investment Management Inc. boosted its position in APi Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,678,342 shares of the company’s stock worth $92,671,000 after purchasing an additional 24,212 shares during the period. Institutional investors own 86.62% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on APG shares. JPMorgan Chase & Co. upped their price target on shares of APi Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. TheStreet cut APi Group from a “b” rating to a “c+” rating in a research report on Wednesday, February 28th. Citigroup raised their target price on APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Robert W. Baird increased 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, Jefferies Financial Group initiated coverage on APi Group in a research note on Friday, March 15th. They set a “buy” rating and a $48.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.29.

APi Group Stock Performance

Shares of APG stock opened at $36.41 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $37.95 and a two-hundred day moving average price of $34.76. APi Group Co. has a 12-month low of $22.31 and a 12-month high of $39.98.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. APi Group had a return on equity of 37.83% and a net margin of 2.49%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. Research analysts predict that APi Group Co. will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the sale, the director now owns 5,828,779 shares of the company’s stock, valued at $216,888,866.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 value of $199,496.20. Following the transaction, the chief financial officer now owns 34,180 shares in the company, valued at $1,220,909.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the transaction, the director now owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. Insiders sold a total of 280,585 shares of company stock valued at $10,578,496 over the last 90 days. Insiders own 16.40% of the company’s stock.

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.