Chase Investment Counsel Corp Makes New $2.02 Million Investment in APi Group Co. (NYSE:APG)

Chase Investment Counsel Corp bought a new stake in APi Group Co. (NYSE:APG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,322 shares of the company’s stock, valued at approximately $2,017,000.

Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in APi Group during the third quarter worth approximately $30,000. Signaturefd LLC boosted its stake in APi Group by 40.2% during the 4th quarter. Signaturefd LLC now owns 3,617 shares of the company’s stock worth $125,000 after purchasing an additional 1,038 shares during the period. Hanseatic Management Services Inc. purchased a new position in APi Group during the 3rd quarter worth $152,000. Leverty Financial Group LLC acquired a new position in APi Group in the fourth quarter valued at $219,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of APi Group by 41.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,612 shares of the company’s stock valued at $229,000 after buying an additional 1,937 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Price Performance

APG stock traded up $0.24 during midday trading on Monday, hitting $38.33. 348,430 shares of the stock were exchanged, compared to its average volume of 1,557,816. The stock’s 50-day moving average price is $37.90 and its 200-day moving average price is $33.21. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.35 and a current ratio of 1.43. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of -50.43, a PEG ratio of 1.13 and a beta of 1.64. APi Group Co. has a fifty-two week low of $21.65 and a fifty-two week high of $39.98.

APi Group (NYSE:APG) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.76 billion. APi Group had a return on equity of 20.24% and a net margin of 2.21%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Research analysts predict that APi Group Co. will post 1.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TheStreet lowered APi Group from a “b” rating to a “c+” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on APi Group from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Barclays increased their target price on APi Group from $37.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Royal Bank of Canada lifted their price target on APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research note on Monday, April 8th. Finally, UBS Group upped their price objective on APi Group from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Insider Buying and Selling at APi Group

In other news, Director James E. Lillie sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $38.38, for a total transaction of $4,797,500.00. Following the completion of the transaction, the director now directly owns 5,455,411 shares of the company’s stock, valued at approximately $209,378,674.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director James E. Lillie sold 125,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $38.38, for a total transaction of $4,797,500.00. Following the sale, the director now owns 5,455,411 shares of the company’s stock, valued at $209,378,674.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Krumm sold 5,585 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.72, for a total transaction of $199,496.20. Following the completion of the transaction, the chief financial officer now directly owns 34,180 shares of the company’s stock, valued at approximately $1,220,909.60. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

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.