Chase Investment Counsel Corp Acquires 30,301 Shares of APi Group Corporation $APG

Chase Investment Counsel Corp grew its holdings in APi Group Corporation (NYSE:APG) by 47.1% during the third quarter, HoldingsChannel.com reports. The firm owned 94,635 shares of the company’s stock after acquiring an additional 30,301 shares during the quarter. Chase Investment Counsel Corp’s holdings in APi Group were worth $3,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in shares of APi Group by 66.4% during the third quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the company’s stock valued at $73,000 after buying an additional 846 shares during the period. Clearstead Advisors LLC lifted its stake in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after acquiring an additional 427 shares during the period. Equitable Trust Co. grew its holdings in APi Group by 49.5% during the 3rd quarter. Equitable Trust Co. now owns 50,067 shares of the company’s stock worth $1,721,000 after acquiring an additional 16,567 shares in the last quarter. Koshinski Asset Management Inc. increased its position in APi Group by 39.2% during the 3rd quarter. Koshinski Asset Management Inc. now owns 7,417 shares of the company’s stock valued at $255,000 after purchasing an additional 2,088 shares during the period. Finally, OneDigital Investment Advisors LLC increased its position in APi Group by 44.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 14,115 shares of the company’s stock valued at $485,000 after purchasing an additional 4,362 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other APi Group news, Director Anthony E. Malkin bought 3,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. The trade was a 75.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 7,000 shares of company stock worth $275,720 in the last quarter. 17.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

APG has been the subject of several recent research reports. Citigroup reissued a “buy” rating and issued a $49.00 price target (up from $45.00) on shares of APi Group in a research report on Monday, January 12th. Barclays lifted their target price on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Truist Financial lifted their price objective on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, UBS Group set a $49.00 price objective on shares of APi Group and gave the stock a “buy” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.24.

APi Group Trading Down 1.2%

NYSE APG opened at $44.10 on Tuesday. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $46.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The company has a market capitalization of $18.34 billion, a PE ratio of 120.29 and a beta of 1.70. The company has a fifty day moving average of $41.76 and a 200 day moving average of $38.03.

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.