US Bancorp DE Increases Stake in APi Group Co. (NYSE:APG)

US Bancorp DE lifted its stake in shares of APi Group Co. (NYSE:APG) by 7.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,741 shares of the company’s stock after buying an additional 476 shares during the period. US Bancorp DE’s holdings in APi Group were worth $242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of APG. First Horizon Advisors Inc. purchased a new stake in APi Group in the third quarter worth about $26,000. Blue Trust Inc. grew its holdings in APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. ORG Wealth Partners LLC purchased a new stake in APi Group in the fourth quarter worth about $34,000. Avior Wealth Management LLC purchased a new stake in APi Group in the third quarter worth about $33,000. Finally, R Squared Ltd purchased a new stake in APi Group in the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APG. Truist Financial restated a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. Robert W. Baird upped their price objective on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Royal Bank of Canada upgraded shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Tuesday, January 14th. William Blair restated an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Finally, Citigroup dropped their target price on shares of APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Insider Transactions at APi Group

In related news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the transaction, the director now owns 1,046,203 shares in the company, valued at $39,724,327.91. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.20% of the company’s stock.

APi Group Trading Up 4.1 %

Shares of NYSE APG opened at $37.20 on Friday. The firm’s 50 day moving average price is $37.69 and its 200-day moving average price is $36.15. The company has a market cap of $10.33 billion, a PE ratio of -18.88 and a beta of 1.54. APi Group Co. has a 52-week low of $31.44 and a 52-week high of $41.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

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.