Polar Asset Management Partners Inc. Grows Stake in APi Group Co. (NYSE:APG)

Polar Asset Management Partners Inc. increased its stake in APi Group Co. (NYSE:APG) by 376.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,500 shares of the company’s stock after acquiring an additional 96,000 shares during the period. Polar Asset Management Partners Inc.’s holdings in APi Group were worth $4,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APG. Blue Trust Inc. grew its position in APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares in the last quarter. First Horizon Advisors Inc. grew its position in APi Group by 53.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock worth $43,000 after acquiring an additional 414 shares in the last quarter. Strategic Financial Concepts LLC grew its position in APi Group by 2,058.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock worth $82,000 after acquiring an additional 217,071 shares in the last quarter. R Squared Ltd purchased a new position in APi Group in the fourth quarter worth about $85,000. Finally, Principal Securities Inc. grew its position in APi Group by 28.1% in the fourth quarter. Principal Securities Inc. now owns 2,611 shares of the company’s stock worth $94,000 after acquiring an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on APG shares. Barclays lifted their price target on APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Citigroup decreased their price objective on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group decreased their price objective on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Truist Financial reissued a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Finally, Robert W. Baird raised their price objective on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.86.

APi Group Stock Performance

APi Group stock opened at $45.69 on Friday. The company has a 50 day moving average price of $37.57 and a 200-day moving average price of $37.39. 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 Co. has a fifty-two week low of $30.76 and a fifty-two week high of $46.18. The company has a market capitalization of $12.65 billion, a PE ratio of -23.19 and a beta of 1.54.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that APi Group Co. will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction 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 completion of 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 legal filing with the SEC, which is accessible through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the transaction, the director now directly owns 5,612,102 shares of the company’s stock, valued at approximately $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.

APi Group Company 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.