AdvisorNet Financial Inc Reduces Position in APi Group Co. (NYSE:APG)

AdvisorNet Financial Inc cut its position in APi Group Co. (NYSE:APG) by 39.3% during the first quarter, HoldingsChannel reports. The firm owned 6,773 shares of the company’s stock after selling 4,376 shares during the quarter. AdvisorNet Financial Inc’s holdings in APi Group were worth $266,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APG. Toronto Dominion Bank purchased a new stake in shares of APi Group in the 3rd quarter valued at approximately $30,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of APi Group by 43.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company’s stock valued at $44,000 after buying an additional 390 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of APi Group by 40.2% in the 4th quarter. Signaturefd LLC now owns 3,617 shares of the company’s stock valued at $125,000 after buying an additional 1,038 shares in the last quarter. Forum Financial Management LP acquired a new position in shares of APi Group in the 4th quarter valued at $201,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of APi Group in the 4th quarter valued at $204,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Up 0.3 %

APG stock opened at $38.46 on Wednesday. APi Group Co. has a one year low of $24.61 and a one year high of $39.98. The stock has a market capitalization of $10.55 billion, a PE ratio of -17.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.35. The company has a fifty day moving average of $37.30 and a 200-day moving average of $35.91.

APi Group (NYSE:APG) last released its earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business earned $0.25 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, analysts expect that APi Group Co. will post 1.88 EPS for the current year.

Wall Street Analysts Forecast Growth

APG has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on shares of APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. Jefferies Financial Group initiated coverage on shares of APi Group in a report on Friday, March 15th. They issued a “buy” rating and a $48.00 target price for the company. TheStreet cut shares of APi Group from a “b” rating to a “c+” rating in a report on Wednesday, February 28th. UBS Group increased their price target on shares of APi Group from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of APi Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Insider Transactions at APi Group

In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the stock in a transaction dated 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. Company 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.