Redwood Investment Management LLC Buys New Position in APi Group Co. (NYSE:APG)

Redwood Investment Management LLC bought a new stake in APi Group Co. (NYSE:APG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 39,625 shares of the company's stock, valued at approximately $1,425,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of APG. Capital Research Global Investors raised its position in APi Group by 118.2% in the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock valued at $393,774,000 after buying an additional 5,931,314 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in APi Group in the 4th quarter valued at approximately $125,407,000. Durable Capital Partners LP raised its position in APi Group by 199.8% in the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company's stock valued at $180,121,000 after buying an additional 3,337,468 shares during the last quarter. Norges Bank acquired a new stake in APi Group in the 4th quarter valued at approximately $98,028,000. Finally, Price T Rowe Associates Inc. MD raised its position in APi Group by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company's stock valued at $562,120,000 after buying an additional 2,602,758 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of analyst reports. UBS Group decreased their price target on APi Group from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Robert W. Baird raised their price target on APi Group from $40.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Truist Financial restated a "buy" rating and issued a $48.00 price target (up from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Barclays raised their price target on APi Group from $43.00 to $48.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, APi Group has an average rating of "Moderate Buy" and a consensus target price of $45.57.

Insider Transactions at APi Group

In other news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the business's stock in a transaction on 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 completion of the sale, the director now owns 5,612,102 shares of the company's stock, valued at $239,748,997.44. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

APi Group Stock Performance

Shares of NYSE APG opened at $45.88 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group Co. has a 12 month low of $30.76 and a 12 month high of $46.18. The stock has a 50 day moving average of $37.76 and a 200-day moving average of $37.47. The company has a market capitalization of $12.70 billion, a P/E ratio of -23.29 and a beta of 1.54.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $0.34 EPS. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict 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.

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