Rhumbline Advisers Purchases 315,811 Shares of APi Group Corporation $APG

Rhumbline Advisers lifted its position in shares of APi Group Corporation (NYSE:APG) by 50.0% in the third quarter, HoldingsChannel.com reports. The firm owned 947,405 shares of the company’s stock after purchasing an additional 315,811 shares during the period. Rhumbline Advisers’ holdings in APi Group were worth $32,563,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH grew its stake in shares of APi Group by 47.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock worth $11,586,000 after buying an additional 108,433 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of APi Group by 72.1% in the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after acquiring an additional 2,077,705 shares during the last quarter. Truist Financial Corp increased its holdings in shares of APi Group by 29.5% during the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after acquiring an additional 43,202 shares in the last quarter. Bridges Investment Management Inc. raised its position in shares of APi Group by 59.6% in the 3rd quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock worth $3,874,000 after purchasing an additional 42,111 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. raised its position in shares of APi Group by 50.5% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 76,095 shares of the company’s stock worth $2,615,000 after purchasing an additional 25,519 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Trading Up 1.1%

NYSE:APG opened at $44.37 on Monday. The company has a market cap of $18.45 billion, a PE ratio of 121.00 and a beta of 1.70. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The company has a 50 day simple moving average of $41.15 and a two-hundred day simple moving average of $37.64. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $46.11.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. UBS Group set a $49.00 price objective on shares of APi Group and gave the stock a “buy” rating in a report on Thursday, January 15th. CJS Securities upgraded APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.24.

Insider Buying and Selling

In other news, Director Anthony E. Malkin bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, with a total value of $118,740.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $277,060. This trade represents a 75.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 7,000 shares of company stock worth $275,720 in the last three months. 17.00% of the stock is currently owned by corporate insiders.

APi Group Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.