Millennium Management LLC Sells 778,123 Shares of APi Group Co. (NYSE:APG)

Millennium Management LLC decreased its holdings in APi Group Co. (NYSE:APG - Free Report) by 45.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 938,828 shares of the company's stock after selling 778,123 shares during the period. Millennium Management LLC owned about 0.34% of APi Group worth $33,770,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Equitable Trust Co. grew its position in APi Group by 1.7% during the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company's stock valued at $744,000 after purchasing an additional 351 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of APi Group by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,380 shares of the company's stock valued at $265,000 after buying an additional 370 shares during the period. Blue Trust Inc. grew its holdings in shares of APi Group by 92.3% during the 4th quarter. Blue Trust Inc. now owns 804 shares of the company's stock valued at $27,000 after acquiring an additional 386 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of APi Group by 3.9% during the 4th quarter. EntryPoint Capital LLC now owns 10,435 shares of the company's stock valued at $375,000 after acquiring an additional 389 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of APi Group by 53.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company's stock worth $43,000 after acquiring an additional 414 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Performance

Shares of NYSE:APG traded down $0.40 during trading on Thursday, reaching $45.70. The stock had a trading volume of 2,813,164 shares, compared to its average volume of 1,725,540. The stock has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $37.72. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. APi Group Co. has a 52 week low of $30.76 and a 52 week high of $48.08. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of -23.20 and a beta of 1.54.

Shares of APi Group are going to split on Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly issued shares will be issued to shareholders after the closing bell on Monday, June 30th.

APi Group (NYSE:APG - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, analysts anticipate that APi Group Co. will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at APi Group

In related news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares of the company's stock, valued at $39,724,327.91. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the transaction, the director now owns 5,612,102 shares in the company, valued at $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company's stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $45.00 target price on shares of APi Group in a research note on Monday. Robert W. Baird lifted their price target on APi Group from $47.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup lowered their price target on APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. increased their price objective on APi Group from $39.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Truist Financial boosted their target price on shares of APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.57.

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.