Cornerstone Investment Partners LLC Acquires 12,002 Shares of APi Group Corporation $APG

Cornerstone Investment Partners LLC grew its holdings in shares of APi Group Corporation (NYSE:APG) by 52.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,937 shares of the company’s stock after buying an additional 12,002 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in APi Group were worth $1,201,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Rhumbline Advisers increased its position in shares of APi Group by 50.0% in the third quarter. Rhumbline Advisers now owns 947,405 shares of the company’s stock valued at $32,563,000 after acquiring an additional 315,811 shares during the last quarter. Bryce Point Capital LLC grew its stake in APi Group by 4.7% in the third quarter. Bryce Point Capital LLC now owns 17,131 shares of the company’s stock valued at $589,000 after purchasing an additional 767 shares in the last quarter. Profund Advisors LLC increased its position in shares of APi Group by 58.9% during the 3rd quarter. Profund Advisors LLC now owns 8,486 shares of the company’s stock worth $292,000 after purchasing an additional 3,147 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of APi Group by 45.8% during the 3rd quarter. ProShare Advisors LLC now owns 15,743 shares of the company’s stock worth $541,000 after purchasing an additional 4,942 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of APi Group by 31.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 144,709 shares of the company’s stock worth $4,974,000 after purchasing an additional 34,422 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Performance

Shares of NYSE APG opened at $44.95 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 122.59 and a beta of 1.70. The stock’s fifty day moving average price is $40.95 and its two-hundred day moving average price is $37.49. APi Group Corporation has a one year low of $20.50 and a one year high of $46.11.

Wall Street Analyst Weigh In

APG has been the subject of several analyst reports. UBS Group set a $49.00 target price on shares of APi Group and gave the company a “buy” rating in a research note on Thursday, January 15th. Barclays lifted their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Finally, Citigroup reissued a “buy” rating and set a $49.00 price target (up previously from $45.00) on shares of APi Group in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.24.

Insiders Place Their Bets

In other APi Group news, Director Anthony E. Malkin acquired 3,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was acquired at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $277,060. This trade represents a 75.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 7,000 shares of company stock valued at $275,720. 17.00% of the stock is owned by insiders.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.