Polar Asset Management Partners Inc. Acquires 96,000 Shares of APi Group Co. (NYSE:APG)

Polar Asset Management Partners Inc. lifted its position in APi Group Co. (NYSE:APG - Free Report) by 376.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,500 shares of the company's stock after acquiring an additional 96,000 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in APi Group were worth $4,370,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its stake in APi Group by 1.6% during the 3rd quarter. Barclays PLC now owns 364,281 shares of the company's stock worth $12,026,000 after buying an additional 5,701 shares during the last quarter. Park Avenue Securities LLC boosted its position in APi Group by 48.0% during the 4th quarter. Park Avenue Securities LLC now owns 12,777 shares of the company's stock worth $460,000 after acquiring an additional 4,144 shares during the period. SG Americas Securities LLC boosted its position in APi Group by 325.6% during the 4th quarter. SG Americas Securities LLC now owns 21,231 shares of the company's stock worth $764,000 after acquiring an additional 16,242 shares during the period. Blue Trust Inc. lifted its holdings in shares of APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company's stock valued at $27,000 after buying an additional 386 shares during the period. Finally, KBC Group NV lifted its holdings in shares of APi Group by 56.2% in the fourth quarter. KBC Group NV now owns 8,750 shares of the company's stock valued at $315,000 after buying an additional 3,149 shares during the period. Institutional investors and hedge funds own 86.62% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

APG has been the subject of several research analyst reports. 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 research note on Friday, May 16th. Citigroup lowered their target price on APi Group from $46.00 to $42.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Truist Financial reiterated a "buy" rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. UBS Group cut their target price on APi Group from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price objective on shares of APi Group in a research report on Monday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $45.57.

APi Group Trading Up 1.8%

Shares of NYSE APG traded up $0.81 during midday trading on Wednesday, hitting $46.73. The stock had a trading volume of 1,357,496 shares, compared to its average volume of 1,715,020. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. APi Group Co. has a fifty-two week low of $30.76 and a fifty-two week high of $48.02. The company's 50-day simple moving average is $38.15 and its 200 day simple moving average is $37.66. The firm has a market cap of $12.94 billion, a P/E ratio of -23.72 and a beta of 1.54.

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

About APi Group

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.