Progeny 3 Inc. Grows Position in APi Group Co. (NYSE:APG)

Progeny 3 Inc. increased its position in shares of APi Group Co. (NYSE:APG) by 24.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,298,025 shares of the company’s stock after acquiring an additional 447,200 shares during the quarter. APi Group comprises 6.4% of Progeny 3 Inc.’s holdings, making the stock its 3rd biggest position. Progeny 3 Inc. owned 0.84% of APi Group worth $75,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cooke & Bieler LP boosted its position in APi Group by 218.9% in the second 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. Millennium Management LLC purchased a new stake in shares of APi Group in the 2nd quarter valued at $67,412,000. Artemis Investment Management LLP increased its stake in shares of APi Group by 65.8% in the second quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock worth $95,707,000 after acquiring an additional 1,009,328 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of APi Group by 382.6% during the second quarter. Point72 Asset Management L.P. now owns 1,064,395 shares of the company’s stock worth $40,053,000 after purchasing an additional 843,826 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in APi Group by 412.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,044,034 shares of the company’s stock valued at $34,474,000 after purchasing an additional 840,452 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Trading Up 0.6 %

APG opened at $37.78 on Friday. The business has a fifty day moving average price of $34.66 and a 200 day moving average price of $35.56. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. APi Group Co. has a 12 month low of $29.95 and a 12 month high of $39.98. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of -19.18 and a beta of 1.54.

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

Insider Transactions at APi Group

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 stock was 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 of the company’s stock, valued at $202,002,581.73. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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 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. Corporate insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on APG. Barclays lifted their price target on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price target on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of APi Group in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company 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.