ING Groep NV Makes New $3.21 Million Investment in APi Group Co. (NYSE:APG)

ING Groep NV acquired a new stake in shares of APi Group Co. (NYSE:APG) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 97,300 shares of the company’s stock, valued at approximately $3,213,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in APi Group by 6,312.4% during the 1st quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company’s stock valued at $191,822,000 after purchasing an additional 4,808,536 shares during the last quarter. Blackstone Inc. purchased a new position in shares of APi Group during the first quarter valued at approximately $139,191,000. Capital Research Global Investors grew its holdings in APi Group by 271.2% during the first quarter. Capital Research Global Investors now owns 4,321,383 shares of the company’s stock worth $169,701,000 after buying an additional 3,157,283 shares in the last quarter. Cooke & Bieler LP raised its position in APi Group by 218.9% in the 2nd 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. Finally, Price T Rowe Associates Inc. MD lifted its stake in APi Group by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,443,315 shares of the company’s stock valued at $253,030,000 after acquiring an additional 1,826,227 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

Insider Activity

In other APi Group news, Director Martin E. Franklin sold 178,346 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the sale, the director now owns 14,267,479 shares of the company’s stock, valued at $503,071,309.54. The trade was a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction 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. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,461 shares of company stock valued at $8,907,049 over the last quarter. Company insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

APG has been the subject of several analyst reports. Barclays increased their target price on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of APi Group in a research report on Friday, November 1st. Robert W. Baird reduced their target price on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price target 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

APi Group Price Performance

Shares of NYSE APG opened at $35.37 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $34.11 and a two-hundred day simple moving average of $35.57. APi Group Co. has a 1-year low of $28.97 and a 1-year high of $39.98. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of -17.95 and a beta of 1.54.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that APi Group Co. will post 1.86 earnings per share for the current year.

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.