KLP Kapitalforvaltning AS Acquires New Shares in APi Group Co. (NYSE:APG)

KLP Kapitalforvaltning AS bought a new stake in shares of APi Group Co. (NYSE:APG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,700 shares of the company’s stock, valued at approximately $1,500,000.

A number of other institutional investors have also recently made changes to their positions in APG. Equitable Trust Co. lifted its position in APi Group by 1.7% during the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock valued at $744,000 after purchasing an additional 351 shares during the period. CIBC Asset Management Inc raised its stake in APi Group by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock valued at $265,000 after buying an additional 370 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of APi Group by 92.3% during the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock valued at $27,000 after buying an additional 386 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of APi Group by 53.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock worth $43,000 after buying an additional 414 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of APi Group by 0.8% in the third quarter. The Manufacturers Life Insurance Company now owns 57,718 shares of the company’s stock worth $1,906,000 after acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of NYSE APG opened at $35.99 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. APi Group Co. has a 1 year low of $31.44 and a 1 year high of $41.31. The firm has a fifty day moving average price of $37.81 and a 200-day moving average price of $36.35. The stock has a market cap of $9.99 billion, a PE ratio of -18.27 and a beta of 1.54.

Insiders Place Their Bets

In related news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the transaction, the director now directly owns 1,046,203 shares of the company’s stock, valued at approximately $39,724,327.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

APG has been the topic of a number of recent research reports. Truist Financial reissued a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. Royal Bank of Canada raised shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Citigroup cut their price objective on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Barclays decreased their target price on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

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.