Jane Street Group LLC Cuts Stock Position in APi Group Co. (NYSE:APG)

Jane Street Group LLC cut its holdings in APi Group Co. (NYSE:APG) by 38.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 884,479 shares of the company’s stock after selling 562,600 shares during the quarter. Jane Street Group LLC owned 0.32% of APi Group worth $29,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APG. First Horizon Advisors Inc. purchased a new position in APi Group during the third quarter worth $26,000. Avior Wealth Management LLC purchased a new position in APi Group during the third quarter worth $33,000. J.Safra Asset Management Corp boosted its stake in APi Group by 21.5% during the second quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company’s stock worth $79,000 after buying an additional 373 shares during the period. Triad Wealth Partners LLC purchased a new position in APi Group during the second quarter worth $132,000. Finally, SG Americas Securities LLC purchased a new position in APi Group during the third quarter worth $165,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays lifted 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. William Blair reaffirmed an “outperform” rating on shares of APi Group in a research note on Thursday. Robert W. Baird lifted their target price on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of APi Group in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.71.

APi Group Stock Performance

APG stock opened at $38.60 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The business has a 50-day moving average price of $35.11 and a 200 day moving average price of $35.61. The company has a market capitalization of $10.61 billion, a P/E ratio of -19.59 and a beta of 1.55. APi Group Co. has a 1-year low of $30.15 and a 1-year high of $40.89.

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, meeting the consensus estimate of $0.51. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, equities research analysts forecast that APi Group Co. will post 1.86 EPS for the current fiscal year.

Insider Activity at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value 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 approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James E. Lillie sold 11,568 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the completion of the transaction, the director now owns 1,134,635 shares of the company’s stock, 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 currently owned by corporate insiders.

APi Group 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.