Massachusetts Financial Services Co. MA Has $5.58 Million Position in APi Group Co. (NYSE:APG)

Massachusetts Financial Services Co. MA reduced its holdings in APi Group Co. (NYSE:APG) by 63.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,059 shares of the company’s stock after selling 291,912 shares during the period. Massachusetts Financial Services Co. MA’s holdings in APi Group were worth $5,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in APi Group by 4.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock valued at $227,881,000 after buying an additional 324,544 shares during the last quarter. Cooke & Bieler LP increased its stake in APi Group by 218.9% in the 2nd quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock valued at $108,545,000 after buying an additional 1,979,931 shares during the last quarter. Artemis Investment Management LLP increased its stake in APi Group by 65.8% in the 2nd quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock valued at $95,707,000 after buying an additional 1,009,328 shares during the last quarter. Select Equity Group L.P. increased its stake in APi Group by 7.6% in the 2nd quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock valued at $92,743,000 after buying an additional 173,544 shares during the last quarter. Finally, Swedbank AB increased its stake in APi Group by 18.8% in the 3rd quarter. Swedbank AB now owns 2,209,000 shares of the company’s stock valued at $72,941,000 after buying an additional 349,000 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Performance

NYSE APG opened at $37.64 on Wednesday. The firm has a 50-day moving average price of $34.52 and a two-hundred day moving average price of $35.53. APi Group Co. has a 12-month low of $29.75 and a 12-month high of $39.98. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $10.34 billion, a P/E ratio of -19.11 and a beta of 1.54.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Analysts anticipate that APi Group Co. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the transaction, the director now directly owns 5,478,779 shares in the company, valued at $202,002,581.73. This represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the transaction, the director now 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 ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.