APi Group Co. (NYSE:APG) Stock Position Reduced by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of APi Group Co. (NYSE:APG) by 12.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,918,985 shares of the company’s stock after selling 408,136 shares during the period. Clearbridge Investments LLC owned about 1.06% of APi Group worth $114,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in APi Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 18,860,384 shares of the company’s stock valued at $489,050,000 after purchasing an additional 167,293 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in APi Group by 701.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 121,332 shares of the company’s stock valued at $4,198,000 after acquiring an additional 106,200 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in APi Group in the fourth quarter valued at approximately $670,000. Charles Schwab Investment Management Inc. lifted its stake in APi Group by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,678,342 shares of the company’s stock valued at $92,671,000 after acquiring an additional 24,212 shares during the last quarter. Finally, Duality Advisers LP acquired a new stake in APi Group in the first quarter valued at approximately $1,447,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on APG. Robert W. Baird lifted their target price on shares of APi Group from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Citigroup boosted their price objective on shares of APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada boosted their price objective on shares of APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.29.

APi Group Stock Performance

APG stock traded down $1.80 on Wednesday, reaching $36.36. 1,082,598 shares of the company were exchanged, compared to its average volume of 1,796,443. APi Group Co. has a 12 month low of $24.61 and a 12 month high of $39.98. The stock’s fifty day moving average price is $37.18 and its 200 day moving average price is $36.54. The firm has a market capitalization of $9.97 billion, a PE ratio of -17.27, a PEG ratio of 1.10 and a beta of 1.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.35 and a quick ratio of 1.26.

APi Group (NYSE:APG) last announced its earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. APi Group’s revenue was down .8% compared to the same quarter last year. On average, research analysts anticipate that APi Group Co. will post 1.88 EPS for the current fiscal year.

Insider Activity

In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the transaction, the director now owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the transaction, the director now owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.