American Century Companies Inc. Increases Stock Holdings in APi Group Co. (NYSE:APG)

American Century Companies Inc. boosted its holdings in APi Group Co. (NYSE:APG) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,686 shares of the company’s stock after purchasing an additional 2,968 shares during the period. American Century Companies Inc.’s holdings in APi Group were worth $816,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in APG. Janus Henderson Group PLC increased its stake in APi Group by 6,312.4% in the 1st quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company’s stock worth $191,822,000 after acquiring an additional 4,808,536 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of APi Group in the 4th quarter worth $159,751,000. Blackstone Inc. purchased a new position in shares of APi Group in the 1st quarter worth $139,191,000. Gates Capital Management Inc. purchased a new position in APi Group during the fourth quarter valued at $111,729,000. Finally, Capital Research Global Investors lifted its position in APi Group by 271.2% during 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 institutional investors.

APi Group Stock Performance

Shares of NYSE APG opened at $32.38 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. APi Group Co. has a 12 month low of $24.61 and a 12 month high of $39.98. The company has a 50 day simple moving average of $34.52 and a two-hundred day simple moving average of $36.56. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of -15.06 and a beta of 1.56.

APi Group (NYSE:APG) last posted its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. As a group, analysts predict that APi Group Co. will post 1.86 earnings per share for the current year.

Insider Activity

In other APi Group news, SVP Louis Lambert sold 6,333 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.45, for a total transaction of $205,505.85. Following the completion of the transaction, the senior vice president now owns 8,100 shares of the company’s stock, valued at $262,845. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Louis Lambert sold 6,333 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.45, for a total value of $205,505.85. Following the completion of the transaction, the senior vice president now owns 8,100 shares of the company’s stock, valued at $262,845. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin E. Franklin sold 178,346 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the completion of the sale, the director now directly owns 14,267,479 shares in the company, valued at approximately $503,071,309.54. The disclosure for this sale can be found here. Insiders sold 340,358 shares of company stock worth $11,653,157 over the last three months. Insiders own 16.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on APG. JPMorgan Chase & Co. decreased their price target on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird reduced their price target on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays cut their target price on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.