Illinois Municipal Retirement Fund Raises Stake in APi Group Corporation $APG

Illinois Municipal Retirement Fund boosted its stake in APi Group Corporation (NYSE:APG) by 117.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,263 shares of the company’s stock after purchasing an additional 59,045 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in APi Group were worth $3,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of APG. Allianz Asset Management GmbH increased its position in shares of APi Group by 47.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after purchasing an additional 108,433 shares during the last quarter. Bessemer Group Inc. boosted its stake in APi Group by 72.1% in the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after buying an additional 2,077,705 shares in the last quarter. Truist Financial Corp boosted its stake in APi Group by 29.5% in the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock worth $6,523,000 after buying an additional 43,202 shares in the last quarter. Bridges Investment Management Inc. grew its position in APi Group by 59.6% during the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock valued at $3,874,000 after acquiring an additional 42,111 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of APi Group by 50.5% during the third quarter. Campbell Newman Asset Management Inc. now owns 76,095 shares of the company’s stock worth $2,615,000 after acquiring an additional 25,519 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

APi Group Stock Performance

APi Group stock opened at $44.37 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The firm has a market cap of $18.45 billion, a P/E ratio of 121.00 and a beta of 1.70. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $46.11. The firm has a 50-day moving average of $41.15 and a 200-day moving average of $37.62.

Wall Street Analyst Weigh In

APG has been the subject of a number of research reports. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays upped their price target on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. UBS Group set a $49.00 target price on APi Group and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Truist Financial raised their price target on APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and an average target price of $43.24.

Insider Activity

In other APi Group news, Director Anthony E. Malkin bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the acquisition, the director directly owned 7,000 shares in the company, valued at $277,060. The trade was a 75.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 7,000 shares of company stock worth $275,720 over the last 90 days. 17.00% of the stock is currently owned by insiders.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.