APi Group Co. (NYSE:APG) Stake Trimmed by Corsair Capital Management L.P.

Corsair Capital Management L.P. decreased its holdings in shares of APi Group Co. (NYSE:APG) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,384 shares of the company’s stock after selling 15,078 shares during the quarter. APi Group comprises about 4.0% of Corsair Capital Management L.P.’s portfolio, making the stock its 9th biggest holding. Corsair Capital Management L.P.’s holdings in APi Group were worth $16,820,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cetera Advisors LLC grew its holdings in shares of APi Group by 1.1% in the first quarter. Cetera Advisors LLC now owns 27,242 shares of the company’s stock valued at $1,070,000 after purchasing an additional 287 shares during the period. Commonwealth Equity Services LLC raised its position in shares of APi Group by 0.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company’s stock valued at $4,091,000 after buying an additional 323 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in APi Group by 4.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company’s stock valued at $278,000 after acquiring an additional 333 shares during the last quarter. J.Safra Asset Management Corp grew its position in APi Group by 21.5% in the second quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company’s stock worth $79,000 after acquiring an additional 373 shares during the period. Finally, AQR Capital Management LLC raised its position in APi Group by 2.1% in the second quarter. AQR Capital Management LLC now owns 20,059 shares of the company’s stock valued at $755,000 after purchasing an additional 406 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the sale, the director now directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the transaction, the director now directly owns 1,134,635 shares of the company’s stock, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

APG has been the topic of several research analyst reports. Barclays boosted their price objective on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird increased their price target on shares of APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.71.

APi Group Trading Up 0.2 %

APG stock opened at $37.72 on Wednesday. APi Group Co. has a one year low of $29.75 and a one year high of $39.98. The company has a fifty day moving average of $34.52 and a 200-day moving average of $35.53. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG) last released its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts forecast that APi Group Co. will post 1.86 EPS for the current year.

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.