Envestnet Asset Management Inc. Buys 220,551 Shares of APi Group Corporation $APG

Envestnet Asset Management Inc. grew its stake in APi Group Corporation (NYSE:APG) by 48.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 674,203 shares of the company’s stock after purchasing an additional 220,551 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of APi Group worth $23,172,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APG. Vanguard Group Inc. grew its stake in APi Group by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock valued at $1,199,357,000 after buying an additional 453,543 shares during the last quarter. Durable Capital Partners LP boosted its holdings in shares of APi Group by 19.2% during the second quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after acquiring an additional 1,712,397 shares during the period. State Street Corp grew its position in shares of APi Group by 83.2% in the second quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after purchasing an additional 3,247,126 shares during the last quarter. Findlay Park Partners LLP increased its stake in shares of APi Group by 3.4% during the second quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock worth $340,332,000 after purchasing an additional 220,700 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in shares of APi Group by 11.3% during the second quarter. Artisan Partners Limited Partnership now owns 4,878,145 shares of the company’s stock worth $249,029,000 after purchasing an additional 497,003 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity at APi Group

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

APi Group Stock Performance

Shares of NYSE:APG opened at $44.37 on Friday. The company’s 50 day simple moving average is $41.15 and its 200 day simple moving average is $37.60. The stock has a market capitalization of $18.45 billion, a price-to-earnings ratio of 121.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $46.11.

Analyst Upgrades and Downgrades

APG has been the topic of a number of research reports. Barclays upped their price objective on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Truist Financial boosted their target price on shares of APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research report 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 issued a $49.00 price objective (up previously from $45.00) on shares of APi Group in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.24.

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.