Pictet Asset Management Holding SA Buys 2,511,993 Shares of APi Group Corporation $APG

Pictet Asset Management Holding SA grew its stake in APi Group Corporation (NYSE:APG - Free Report) by 86.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,430,657 shares of the company's stock after purchasing an additional 2,511,993 shares during the quarter. Pictet Asset Management Holding SA owned about 1.31% of APi Group worth $207,798,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Verdence Capital Advisors LLC raised its holdings in APi Group by 0.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 134,247 shares of the company's stock worth $5,136,000 after purchasing an additional 1,152 shares in the last quarter. Carmel Capital Partners LLC grew its position in shares of APi Group by 37.3% in the 4th quarter. Carmel Capital Partners LLC now owns 109,628 shares of the company's stock worth $4,194,000 after buying an additional 29,755 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of APi Group by 18.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 9,145 shares of the company's stock worth $350,000 after buying an additional 1,411 shares during the period. Montrusco Bolton Investments Inc. grew its position in shares of APi Group by 110.8% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,090,155 shares of the company's stock worth $115,314,000 after buying an additional 1,624,455 shares during the period. Finally, Arizona State Retirement System grew its position in shares of APi Group by 0.3% in the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company's stock worth $3,772,000 after buying an additional 277 shares during the period. 86.62% of the stock is currently owned by institutional investors.

APi Group Price Performance

APG opened at $49.40 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. The stock has a market capitalization of $21.37 billion, a P/E ratio of -65.28, a P/E/G ratio of 2.90 and a beta of 1.68. The company's 50-day simple moving average is $43.48 and its two-hundred day simple moving average is $40.66. APi Group Corporation has a 52-week low of $24.46 and a 52-week high of $49.63.

APi Group (NYSE:APG - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.09 billion. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, analysts predict that APi Group Corporation will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on APG shares. Wall Street Zen downgraded shares of APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Truist Financial upped their target price on shares of APi Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Royal Bank Of Canada upped their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Barclays upped their target price on shares of APi Group from $44.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Finally, UBS Group upped their target price on shares of APi Group from $49.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. One equities research 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.57.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 100,888 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $44.30, for a total transaction of $4,469,338.40. Following the transaction, the director owned 9,706,462 shares in the company, valued at approximately $429,996,266.60. This represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 114,409 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the transaction, the director owned 10,633,830 shares in the company, valued at $458,530,749.60. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,682,000 shares of company stock worth $152,333,385. Company insiders own 18.70% of the company's stock.

APi Group 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.

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