Equitable Trust Co. Boosts Stake in APi Group Corporation $APG

Equitable Trust Co. grew its holdings in shares of APi Group Corporation (NYSE:APG) by 49.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,067 shares of the company’s stock after acquiring an additional 16,567 shares during the period. Equitable Trust Co.’s holdings in APi Group were worth $1,721,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. AQR Capital Management LLC acquired a new stake in APi Group during the 1st quarter valued at approximately $650,000. Goldman Sachs Group Inc. boosted its stake in shares of APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after buying an additional 75,490 shares during the last quarter. AlphaQuest LLC grew its position in shares of APi Group by 30.9% during the second quarter. AlphaQuest LLC now owns 4,366 shares of the company’s stock worth $223,000 after buying an additional 1,031 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of APi Group in the second quarter worth $2,101,000. Finally, Hantz Financial Services Inc. raised its holdings in APi Group by 9.7% in the second quarter. Hantz Financial Services Inc. now owns 15,402 shares of the company’s stock valued at $786,000 after acquiring an additional 1,363 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of NYSE APG opened at $44.10 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average price is $41.76 and its two-hundred day moving average price is $38.03. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.11. The stock has a market capitalization of $18.34 billion, a P/E ratio of 120.29 and a beta of 1.70.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have weighed in on APG. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. Barclays boosted 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. CJS Securities upgraded APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Citigroup reiterated a “buy” rating and issued a $49.00 target price (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 given a Hold rating to the company’s stock. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.24.

APi Group Profile

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.