45,000 APi Group Corporation $APG Shares Purchased by Consolidated Investment Group LLC

Key Points

• Consolidated Investment Group increased its APi Group stake by 46.2% in the third quarter, adding 45,000 shares to hold 142,300 shares worth about $5.49 million.
• APi Group beat quarterly estimates, reporting EPS of $0.50 versus $0.47 expected and revenue of $2.55 billion versus $2.40 billion; revenue grew 22.5% year over year.
• Analysts maintain a consensus Buy rating and a $54.67 average price target. The stock was reported up 4.1% in trading.

Consolidated Investment Group LLC boosted its position in APi Group Corporation (NYSE:APG - Free Report) by 46.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,300 shares of the company's stock after buying an additional 45,000 shares during the quarter. Consolidated Investment Group LLC's holdings in APi Group were worth $5,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its stake in shares of APi Group by 55.7% during the third quarter. CoreCap Advisors LLC now owns 716 shares of the company's stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Arista Wealth Management LLC lifted its stake in shares of APi Group by 1.4% in the second quarter. Arista Wealth Management LLC now owns 19,125 shares of the company's stock worth $810,000 after acquiring an additional 270 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of APi Group by 2.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 11,932 shares of the company's stock worth $461,000 after acquiring an additional 274 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in APi Group by 0.5% in the second quarter. Baird Financial Group Inc. now owns 61,525 shares of the company's stock valued at $2,606,000 after purchasing an additional 277 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its holdings in APi Group by 4.4% in the third quarter. ZWJ Investment Counsel Inc. now owns 8,625 shares of the company's stock valued at $333,000 after purchasing an additional 367 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Trading Up 4.1%

NYSE:APG opened at $42.55 on Tuesday. APi Group Corporation has a 12-month low of $35.57 and a 12-month high of $49.99. The firm has a market capitalization of $18.10 billion, a P/E ratio of -67.54, a P/E/G ratio of 1.86 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.18 and a quick ratio of 1.12. The business has a 50 day simple moving average of $39.93 and a 200 day simple moving average of $41.95.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. APi Group had a return on equity of 38.31% and a net margin of 4.12%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business earned $0.41 EPS. The firm's revenue was up 22.5% on a year-over-year basis. Equities research analysts predict that APi Group Corporation will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on APG shares. Wall Street Zen downgraded APi Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Robert W. Baird set a $47.00 target price on APi Group in a research note on Friday, July 31st. Wells Fargo & Company raised their price target on shares of APi Group from $53.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Weiss Ratings upgraded shares of APi Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, October 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $56.00 price target on shares of APi Group in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, APi Group currently has an average rating of "Buy" and a consensus price target of $54.67.

About APi Group

APi Group Corporation is a provider of safety and specialty services for commercial, industrial and institutional customers. Its work includes the installation, inspection, maintenance and repair of systems and infrastructure used in buildings and industrial facilities.

The company's services include fire protection and life-safety systems, security, heating and cooling, plumbing, electrical work, and other building and infrastructure services. APi Group delivers these offerings through a network of operating businesses and local brands.

APi Group traces its roots to a pipe installation business established in Minnesota in 1926.

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