Verition Fund Management LLC Takes Position in APi Group Co. (NYSE:APG)

Verition Fund Management LLC purchased a new position in shares of APi Group Co. (NYSE:APGGet Rating) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 90,970 shares of the company’s stock, valued at approximately $1,913,000.

Several other hedge funds have also recently modified their holdings of the stock. Viking Global Investors LP lifted its holdings in shares of APi Group by 0.4% during the first quarter. Viking Global Investors LP now owns 33,463,200 shares of the company’s stock worth $703,731,000 after purchasing an additional 129,867 shares during the period. State Street Corp raised its position in APi Group by 5.2% in the first quarter. State Street Corp now owns 3,842,273 shares of the company’s stock worth $80,803,000 after acquiring an additional 189,857 shares in the last quarter. Geode Capital Management LLC raised its position in APi Group by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 3,341,972 shares of the company’s stock worth $86,122,000 after acquiring an additional 144,655 shares in the last quarter. ADW Capital Management LLC raised its position in APi Group by 1.9% in the first quarter. ADW Capital Management LLC now owns 3,100,000 shares of the company’s stock worth $65,193,000 after acquiring an additional 57,000 shares in the last quarter. Finally, Robeco Schweiz AG raised its position in APi Group by 17.4% in the first quarter. Robeco Schweiz AG now owns 3,066,900 shares of the company’s stock worth $64,497,000 after acquiring an additional 454,998 shares in the last quarter. 73.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APG has been the subject of several research analyst reports. Bank of America upgraded APi Group from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Monday, July 11th. JPMorgan Chase & Co. initiated coverage on shares of APi Group in a research note on Friday, June 17th. They set a “neutral” rating and a $17.00 price objective on the stock. Barclays dropped their price target on shares of APi Group from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Finally, Royal Bank of Canada dropped their price target on shares of APi Group from $24.00 to $18.00 in a research note on Monday, July 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.17.

APi Group Stock Performance

APi Group stock opened at $14.94 on Monday. APi Group Co. has a 12 month low of $14.13 and a 12 month high of $26.84. The company has a market cap of $3.48 billion, a PE ratio of -21.65, a P/E/G ratio of 0.52 and a beta of 1.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.62 and a quick ratio of 1.52. The company has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $17.60.

APi Group (NYSE:APGGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. APi Group had a net margin of 1.08% and a return on equity of 13.70%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 68.6% compared to the same quarter last year. Research analysts expect that APi Group Co. will post 1.33 earnings per share for the current year.

APi Group Profile

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APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.

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Institutional Ownership by Quarter for APi Group (NYSE:APG)

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