Envestnet Asset Management Inc. Has $23.17 Million Stock Holdings in APi Group Corporation $APG

Envestnet Asset Management Inc. boosted its stake in APi Group Corporation (NYSE:APG) by 48.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 674,203 shares of the company’s stock after purchasing an additional 220,551 shares during the period. Envestnet Asset Management Inc.’s holdings in APi Group were worth $23,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APG. Vanguard Group Inc. lifted its stake in shares of APi Group by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock valued at $1,199,357,000 after acquiring an additional 453,543 shares during the last quarter. Durable Capital Partners LP grew its position in APi Group by 19.2% during the 2nd quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after acquiring an additional 1,712,397 shares during the last quarter. State Street Corp increased its holdings in APi Group by 83.2% in the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after purchasing an additional 3,247,126 shares in the last quarter. Findlay Park Partners LLP raised its position in APi Group by 3.4% in the second quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock valued at $340,332,000 after purchasing an additional 220,700 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in APi Group by 11.3% in the second quarter. Artisan Partners Limited Partnership now owns 4,878,145 shares of the company’s stock valued at $249,029,000 after purchasing an additional 497,003 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Up 1.1%

Shares of APi Group stock opened at $44.37 on Friday. The stock’s 50-day moving average is $41.15 and its 200 day moving average is $37.60. APi Group Corporation has a one year low of $20.50 and a one year high of $46.11. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 121.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41.

Insider Activity

In other APi Group news, Director Anthony E. Malkin purchased 3,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were purchased at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the acquisition, the director owned 7,000 shares of the company’s stock, valued at approximately $277,060. This represents a 75.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders purchased 7,000 shares of company stock worth $275,720. 17.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group set a $49.00 price target on APi Group and gave the stock a “buy” rating in a report on Thursday, January 15th. Barclays lifted their price target on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. CJS Securities raised APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Citigroup reaffirmed a “buy” rating and set a $49.00 target price (up from $45.00) on shares of APi Group in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus price target of $43.24.

APi Group Company 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.