Strategic Financial Concepts LLC Lowers Stake in APi Group Co. (NYSE:APG)

Strategic Financial Concepts LLC reduced its stake in shares of APi Group Co. (NYSE:APG) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,328 shares of the company’s stock after selling 4,219 shares during the quarter. Strategic Financial Concepts LLC’s holdings in APi Group were worth $228,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Principal Securities Inc. boosted its stake in shares of APi Group by 28.1% during the fourth quarter. Principal Securities Inc. now owns 2,611 shares of the company’s stock valued at $94,000 after purchasing an additional 573 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of APi Group during the fourth quarter valued at $748,000. Asset Management One Co. Ltd. boosted its stake in shares of APi Group by 24.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 89,897 shares of the company’s stock valued at $3,236,000 after purchasing an additional 17,404 shares during the period. Equitable Trust Co. boosted its stake in shares of APi Group by 1.7% during the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock valued at $744,000 after purchasing an additional 351 shares during the period. Finally, Pelham Capital Ltd. purchased a new stake in shares of APi Group during the fourth quarter valued at $7,540,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of recent analyst reports. Truist Financial initiated coverage on shares of APi Group in a research note on Wednesday, January 22nd. They set a “buy” rating and a $45.00 target price for the company. Citigroup lowered their price objective on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, January 13th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Royal Bank of Canada raised shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, January 14th. Finally, Robert W. Baird upped 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, November 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.88.

APi Group Stock Performance

APG stock opened at $39.86 on Friday. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of -20.23 and a beta of 1.55. The firm has a 50-day simple moving average of $37.42 and a two-hundred day simple moving average of $35.80. APi Group Co. has a one year low of $31.44 and a one year high of $41.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

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.