Massachusetts Financial Services Co. MA Has $5.58 Million Stake in APi Group Co. (NYSE:APG)

Massachusetts Financial Services Co. MA trimmed its stake in shares of APi Group Co. (NYSE:APG) by 63.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,059 shares of the company’s stock after selling 291,912 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.06% of APi Group worth $5,582,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of APi Group by 4.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock worth $227,881,000 after purchasing an additional 324,544 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of APi Group by 218.9% during the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock worth $108,545,000 after purchasing an additional 1,979,931 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of APi Group by 65.8% during the second quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock worth $95,707,000 after purchasing an additional 1,009,328 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of APi Group by 7.6% during the second quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock worth $92,743,000 after purchasing an additional 173,544 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of APi Group by 18.8% during the third quarter. Swedbank AB now owns 2,209,000 shares of the company’s stock worth $72,941,000 after purchasing an additional 349,000 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at APi Group

In related news, Director James E. Lillie sold 11,568 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the sale, the director now directly owns 1,134,635 shares in the company, valued at $41,958,802.30. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the sale, the director now owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.20% of the company’s stock.

APi Group Trading Down 1.6 %

Shares of NYSE APG opened at $37.64 on Wednesday. The company’s fifty day moving average is $34.52 and its 200-day moving average is $35.53. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of -19.11 and a beta of 1.54. APi Group Co. has a twelve month low of $29.75 and a twelve month high of $39.98. 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 (NYSE:APG) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Equities research analysts predict that APi Group Co. will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

APG has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of APi Group in a report on Friday, November 1st. Barclays increased their price objective on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.71.

APi Group 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.