APi Group Corporation $APG Shares Newly Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC acquired a new stake in shares of APi Group Corporation (NYSE:APG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 13,936 shares of the company’s stock, valued at approximately $538,000.

A number of other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC boosted its holdings in shares of APi Group by 55.7% during the third quarter. CoreCap Advisors LLC now owns 716 shares of the company’s stock worth $28,000 after purchasing an additional 256 shares during the period. Root Financial Partners LLC purchased a new position in APi Group during the 3rd quarter valued at about $49,000. John Boyer Inc. purchased a new position in APi Group during the 3rd quarter valued at about $61,000. Whittier Trust Co. increased its holdings in APi Group by 84.4% during the 1st quarter. Whittier Trust Co. now owns 2,060 shares of the company’s stock valued at $87,000 after purchasing an additional 943 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in APi Group by 35.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,297 shares of the company’s stock valued at $93,000 after purchasing an additional 607 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Trading Down 8.4%

NYSE:APG opened at $40.31 on Friday. The company has a 50-day moving average price of $39.88 and a 200-day moving average price of $41.95. APi Group Corporation has a 12 month low of $35.16 and a 12 month high of $49.99. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.92. The stock has a market cap of $17.14 billion, a price-to-earnings ratio of -63.99, a P/E/G ratio of 1.86 and a beta of 1.57.

APi Group (NYSE:APG) last announced its earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. APi Group had a net margin of 4.12% and a return on equity of 38.31%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts predict that APi Group Corporation will post 1.77 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Truist Financial set a $58.00 price target on APi Group and gave the company a “buy” rating in a research report on Friday, October 30th. Robert W. Baird set a $47.00 price objective on APi Group in a research report on Friday, July 31st. Wall Street Zen cut APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company boosted their target price on APi Group from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Finally, Citigroup upped their target price on APi Group from $55.00 to $57.00 and gave the company a “buy” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, APi Group has an average rating of “Buy” and a consensus target price of $54.67.

APi Group Profile

APi Group Corporation (NYSE: APG) is a global provider of safety, specialty and industrial services. The company serves commercial, industrial and infrastructure customers through a network of operating businesses that provide services designed to protect people, property and critical assets.

APi Group’s offerings include fire protection and life-safety systems, security services, heating, ventilation and air-conditioning services, industrial maintenance, specialty contracting and infrastructure services.