Handelsbanken Fonder AB Purchases 590,000 Shares of APi Group Co. (NYSE:APG)

Handelsbanken Fonder AB lifted its position in APi Group Co. (NYSE:APG) by 1,106.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 643,300 shares of the company’s stock after buying an additional 590,000 shares during the period. Handelsbanken Fonder AB’s holdings in APi Group were worth $23,140,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in APG. Venturi Wealth Management LLC bought a new stake in shares of APi Group in the fourth quarter worth about $159,000. Truist Financial Corp grew its position in shares of APi Group by 18.0% in the 4th quarter. Truist Financial Corp now owns 145,527 shares of the company’s stock valued at $5,235,000 after purchasing an additional 22,184 shares during the period. CIBC Asset Management Inc increased its stake in APi Group by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock worth $265,000 after purchasing an additional 370 shares in the last quarter. Principal Securities Inc. raised its holdings in APi Group by 28.1% during the 4th quarter. Principal Securities Inc. now owns 2,611 shares of the company’s stock worth $94,000 after buying an additional 573 shares during the period. Finally, New York State Teachers Retirement System bought a new position in APi Group in the fourth quarter valued at approximately $748,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of NYSE APG opened at $40.75 on Friday. The stock has a market capitalization of $11.20 billion, a PE ratio of -20.69 and a beta of 1.55. APi Group Co. has a 52 week low of $31.44 and a 52 week high of $41.27. The stock has a 50 day moving average price of $37.38 and a 200 day moving average price of $35.75. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial initiated coverage on shares of APi Group in a research report on Wednesday, January 22nd. They set a “buy” rating and a $45.00 price objective for the company. UBS Group lowered their target price on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank of Canada upgraded APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, January 14th. Citigroup decreased their price objective on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, William Blair restated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.88.

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.