Chase Investment Counsel Corp Buys 30,301 Shares of APi Group Corporation $APG

Chase Investment Counsel Corp raised its position in APi Group Corporation (NYSE:APG) by 47.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,635 shares of the company’s stock after buying an additional 30,301 shares during the period. Chase Investment Counsel Corp’s holdings in APi Group were worth $3,252,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in APG. Allianz Asset Management GmbH boosted its position in APi Group by 47.4% during the third quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock worth $11,586,000 after purchasing an additional 108,433 shares during the period. Bessemer Group Inc. lifted its stake in shares of APi Group by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after buying an additional 2,077,705 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in APi Group by 48.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock worth $23,172,000 after buying an additional 220,551 shares during the period. Truist Financial Corp boosted its holdings in APi Group by 29.5% in the 3rd quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock worth $6,523,000 after buying an additional 43,202 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in APi Group by 128.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 246,294 shares of the company’s stock valued at $8,465,000 after buying an additional 138,369 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APG has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. UBS Group set a $49.00 price objective on shares of APi Group and gave the company a “buy” rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Barclays boosted their price target 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. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.24.

Insider Activity at APi Group

In other news, Director Anthony E. Malkin acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, with a total value of $118,740.00. Following the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. The trade was a 75.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have bought 7,000 shares of company stock worth $275,720. 17.00% of the stock is owned by corporate insiders.

APi Group Stock Down 1.2%

Shares of APi Group stock opened at $44.10 on Tuesday. The stock has a market capitalization of $18.34 billion, a PE ratio of 120.29 and a beta of 1.70. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The company has a 50-day simple moving average of $41.76 and a two-hundred day simple moving average of $38.03.

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.