Renaissance Technologies LLC Grows Stock Position in APi Group Co. (NYSE:APG)

Renaissance Technologies LLC boosted its position in APi Group Co. (NYSE:APG) by 79.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 514,900 shares of the company’s stock after buying an additional 227,600 shares during the quarter. Renaissance Technologies LLC’s holdings in APi Group were worth $19,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of APi Group by 5.0% in the first quarter. Vanguard Group Inc. now owns 21,822,007 shares of the company’s stock valued at $856,950,000 after purchasing an additional 1,031,564 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of APi Group by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,443,315 shares of the company’s stock valued at $253,030,000 after purchasing an additional 1,826,227 shares in the last quarter. Findlay Park Partners LLP grew its position in shares of APi Group by 39.1% in the first quarter. Findlay Park Partners LLP now owns 5,193,748 shares of the company’s stock valued at $203,958,000 after purchasing an additional 1,459,000 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of APi Group by 6,312.4% in the first quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company’s stock valued at $191,822,000 after purchasing an additional 4,808,536 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of APi Group by 271.2% in the first quarter. Capital Research Global Investors now owns 4,321,383 shares of the company’s stock valued at $169,701,000 after purchasing an additional 3,157,283 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the sale, the director now owns 5,678,779 shares of the company’s stock, valued at $187,570,070.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other APi Group news, SVP Louis Lambert sold 6,333 shares of APi Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.45, for a total transaction of $205,505.85. Following the completion of the sale, the senior vice president now owns 8,100 shares of the company’s stock, valued at $262,845. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $33.03, for a total value of $4,954,500.00. Following the sale, the director now directly owns 5,678,779 shares of the company’s stock, valued at approximately $187,570,070.37. The disclosure for this sale can be found here. Insiders sold a total of 340,358 shares of company stock valued at $11,653,157 over the last 90 days. Insiders own 16.40% of the company’s stock.

APi Group Price Performance

NYSE:APG opened at $35.21 on Friday. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of -16.38, a P/E/G ratio of 0.99 and a beta of 1.56. APi Group Co. has a 52-week low of $24.61 and a 52-week high of $39.98. The stock has a fifty day moving average of $35.08 and a 200 day moving average of $36.84. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.48.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts expect that APi Group Co. will post 1.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APG shares. JPMorgan Chase & Co. reduced their price target on APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Robert W. Baird reduced their price target on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Barclays dropped their price objective on APi Group from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

APi Group Profile

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.