Assenagon Asset Management S.A. Purchases New Position in APi Group Corporation $APG

Assenagon Asset Management S.A. acquired a new position in shares of APi Group Corporation (NYSE:APG) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,315,202 shares of the company’s stock, valued at approximately $45,203,000.

Other institutional investors also recently modified their holdings of the company. Bridges Investment Management Inc. grew its holdings in shares of APi Group by 15.4% during the second quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company’s stock worth $3,605,000 after purchasing an additional 9,435 shares during the last quarter. Rathbones Group PLC acquired a new position in APi Group during the 2nd quarter worth about $2,094,000. Capital Investment Services of America Inc. grew its holdings in APi Group by 5.4% during the 2nd quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock worth $20,283,000 after acquiring an additional 20,337 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in APi Group by 6.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,802 shares of the company’s stock valued at $3,972,000 after acquiring an additional 4,919 shares in the last quarter. Finally, Equitable Trust Co. raised its stake in shares of APi Group by 60.5% in the second quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock worth $1,710,000 after acquiring an additional 12,630 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Trading Up 0.7%

NYSE:APG opened at $38.45 on Friday. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $40.58. The business’s 50-day moving average price is $36.98 and its two-hundred day moving average price is $35.30. 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 firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 104.87 and a beta of 1.72.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. On average, equities analysts expect that APi Group Corporation will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 900,000 shares of company stock valued at $32,342,000 over the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APG has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of APi Group in a research note on Monday, December 8th. Zacks Research lowered APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. CJS Securities raised APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays upped their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Citigroup reiterated a “buy” rating and issued a $45.00 price objective (up from $43.00) on shares of APi Group in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.81.

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.