Lazard Asset Management LLC Purchases 2,576 Shares of APi Group Co. (NYSE:APG)

Lazard Asset Management LLC increased its position in shares of APi Group Co. (NYSE:APGGet Rating) by 74.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,048 shares of the company’s stock after buying an additional 2,576 shares during the quarter. Lazard Asset Management LLC’s holdings in APi Group were worth $90,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in APi Group by 1,075.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,914 shares of the company’s stock valued at $61,000 after purchasing an additional 2,666 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in APi Group by 13.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,760 shares of the company’s stock valued at $101,000 after purchasing an additional 800 shares in the last quarter. Xponance Inc. grew its stake in APi Group by 16.8% in the second quarter. Xponance Inc. now owns 11,207 shares of the company’s stock valued at $168,000 after purchasing an additional 1,615 shares in the last quarter. Truist Financial Corp grew its stake in APi Group by 25.4% in the first quarter. Truist Financial Corp now owns 12,661 shares of the company’s stock valued at $266,000 after purchasing an additional 2,564 shares in the last quarter. Finally, Steph & Co. grew its stake in APi Group by 27.8% in the second quarter. Steph & Co. now owns 17,781 shares of the company’s stock valued at $266,000 after purchasing an additional 3,871 shares in the last quarter. 73.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APG. TheStreet upgraded APi Group from a “d+” rating to a “c-” rating in a research note on Thursday, November 3rd. Royal Bank of Canada raised their price target on APi Group from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, November 18th. Barclays reduced their target price on APi Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 3rd. Finally, UBS Group lifted their target price on APi Group to $24.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.43.

APi Group Stock Performance

NYSE:APG opened at $18.70 on Thursday. The stock has a market cap of $4.37 billion, a P/E ratio of -26.34, a PEG ratio of 0.67 and a beta of 1.58. The stock has a 50 day simple moving average of $15.79 and a 200 day simple moving average of $16.20. The company has a current ratio of 1.62, a quick ratio of 1.52 and a debt-to-equity ratio of 1.29. APi Group Co. has a 1-year low of $13.09 and a 1-year high of $26.84.

APi Group (NYSE:APGGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.68 billion. APi Group had a return on equity of 15.13% and a net margin of 0.92%. The firm’s revenue for the quarter was up 65.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. Research analysts anticipate that APi Group Co. will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anthony E. Malkin purchased 21,500 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average cost of $15.10 per share, with a total value of $324,650.00. Following the acquisition, the director now owns 77,396 shares in the company, valued at approximately $1,168,679.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Anthony E. Malkin acquired 21,500 shares of the company’s stock in a transaction on Monday, September 19th. The stock was purchased at an average cost of $15.10 per share, with a total value of $324,650.00. Following the acquisition, the director now directly owns 77,396 shares of the company’s stock, valued at $1,168,679.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anthony E. Malkin acquired 8,554 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was bought at an average cost of $15.35 per share, with a total value of $131,303.90. Following the completion of the acquisition, the director now directly owns 53,757 shares in the company, valued at $825,169.95. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 31,792 shares of company stock valued at $482,592. Insiders own 13.70% of the company’s stock.

APi Group Company Profile

(Get Rating)

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.

See Also

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

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