Daiwa Securities Group Inc. Raises Stake in APi Group Co. (NYSE:APG)

Daiwa Securities Group Inc. lifted its position in shares of APi Group Co. (NYSE:APG) by 11.3% in the fourth quarter, Holdings Channel reports. The firm owned 11,640 shares of the company’s stock after purchasing an additional 1,179 shares during the period. Daiwa Securities Group Inc.’s holdings in APi Group were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of APG. Janus Henderson Group PLC grew its holdings in shares of APi Group by 19.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock worth $277,079,000 after purchasing an additional 1,351,013 shares during the period. Handelsbanken Fonder AB lifted its position in APi Group by 1,106.9% during the 4th quarter. Handelsbanken Fonder AB now owns 643,300 shares of the company’s stock worth $23,140,000 after acquiring an additional 590,000 shares in the last quarter. Two Sigma Advisers LP lifted its position in APi Group by 124.7% during the 3rd quarter. Two Sigma Advisers LP now owns 894,600 shares of the company’s stock worth $29,540,000 after acquiring an additional 496,500 shares in the last quarter. Progeny 3 Inc. lifted its position in APi Group by 24.2% during the 3rd quarter. Progeny 3 Inc. now owns 2,298,025 shares of the company’s stock worth $75,881,000 after acquiring an additional 447,200 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in APi Group by 19.7% during the 4th quarter. GW&K Investment Management LLC now owns 2,631,409 shares of the company’s stock worth $94,652,000 after acquiring an additional 432,926 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

APG stock opened at $37.20 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The firm has a market cap of $10.33 billion, a P/E ratio of -18.88 and a beta of 1.54. APi Group Co. has a 12-month low of $31.44 and a 12-month high of $41.31. The stock’s 50 day simple moving average is $37.69 and its 200 day simple moving average is $36.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group reduced their price target on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Tuesday, January 14th. Truist Financial reaffirmed a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a research report on Thursday, December 5th. Finally, Robert W. Baird upped their target price on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.43.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 50,000 shares of the company’s 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 sale, the director now directly owns 1,046,203 shares of the company’s stock, valued at approximately $39,724,327.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.20% of the company’s stock.

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.