Alliancebernstein L.P. Sells 1,292,619 Shares of APi Group Co. (NYSE:APG)

Alliancebernstein L.P. lessened its stake in shares of APi Group Co. (NYSE:APG) by 90.9% during the 4th quarter, Holdings Channel reports. The fund owned 128,868 shares of the company’s stock after selling 1,292,619 shares during the period. Alliancebernstein L.P.’s holdings in APi Group were worth $4,635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Strategic Financial Concepts LLC boosted its position in APi Group by 2,058.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock valued at $82,000 after purchasing an additional 217,071 shares in the last quarter. Virtu Financial LLC bought a new position in shares of APi Group during the 3rd quarter worth approximately $813,000. SG Americas Securities LLC lifted its position in APi Group by 325.6% during the fourth quarter. SG Americas Securities LLC now owns 21,231 shares of the company’s stock valued at $764,000 after acquiring an additional 16,242 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in APi Group by 24.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 89,897 shares of the company’s stock valued at $3,236,000 after acquiring an additional 17,404 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in APi Group in the fourth quarter worth $511,000. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APG. UBS Group lowered their price objective on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Robert W. Baird raised their price target on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of APi Group in a report on Thursday, February 27th. Citigroup dropped their price target on APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada upgraded 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.29.

Insider Buying and Selling

In related news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the transaction, the director now directly owns 1,046,203 shares in the company, valued at $39,724,327.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 18.20% of the stock is owned by corporate insiders.

APi Group Stock Performance

NYSE APG opened at $34.67 on Monday. The firm has a market capitalization of $9.58 billion, a P/E ratio of -17.60 and a beta of 1.55. The stock has a 50-day simple moving average of $36.95 and a two-hundred day simple moving average of $36.37. 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 Co. has a fifty-two week low of $30.76 and a fifty-two week high of $41.31.

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.