Corsair Capital Management L.P. Cuts Stock Position in APi Group Co. (NYSE:APG)

Corsair Capital Management L.P. lessened its stake in shares of APi Group Co. (NYSE:APG) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,384 shares of the company’s stock after selling 15,078 shares during the period. APi Group makes up about 4.0% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 9th largest holding. Corsair Capital Management L.P. owned 0.19% of APi Group worth $16,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APG. Allspring Global Investments Holdings LLC raised its stake in shares of APi Group by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock worth $227,881,000 after purchasing an additional 324,544 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of APi Group by 218.9% during the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock valued at $108,545,000 after purchasing an additional 1,979,931 shares during the last quarter. Artemis Investment Management LLP lifted its position in APi Group by 65.8% during the second quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock valued at $95,707,000 after purchasing an additional 1,009,328 shares during the period. Select Equity Group L.P. boosted its holdings in APi Group by 7.6% in the second quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock worth $92,743,000 after purchasing an additional 173,544 shares during the last quarter. Finally, M.D. Sass LLC grew its position in APi Group by 7.5% in the 3rd quarter. M.D. Sass LLC now owns 2,313,473 shares of the company’s stock worth $76,391,000 after purchasing an additional 160,595 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction 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. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the sale, the director now directly owns 1,134,635 shares in the company, valued at $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.

APi Group Stock Up 0.2 %

NYSE:APG opened at $37.72 on Wednesday. The stock has a fifty day simple moving average of $34.52 and a 200-day simple moving average of $35.53. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group Co. has a twelve month low of $29.75 and a twelve month high of $39.98.

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

Wall Street Analyst Weigh In

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