Norges Bank Acquires Shares of 2,725,277 APi Group Co. (NYSE:APG)

Norges Bank acquired a new stake in APi Group Co. (NYSE:APG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,725,277 shares of the company’s stock, valued at approximately $98,028,000. Norges Bank owned about 0.99% of APi Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APG. Equitable Trust Co. boosted its holdings in APi Group by 1.7% in 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 last quarter. CIBC Asset Management Inc boosted its stake in shares of APi Group by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock worth $265,000 after buying an additional 370 shares during the last quarter. Blue Trust Inc. grew its holdings in APi Group by 92.3% during the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the period. EntryPoint Capital LLC raised its position in APi Group by 3.9% during the fourth quarter. EntryPoint Capital LLC now owns 10,435 shares of the company’s stock valued at $375,000 after acquiring an additional 389 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in APi Group by 53.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock valued at $43,000 after acquiring an additional 414 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Buying and Selling

In other news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 18.20% of the stock is currently owned by insiders.

APi Group Stock Up 0.3 %

APG stock opened at $35.87 on Wednesday. APi Group Co. has a 52 week low of $31.44 and a 52 week high of $41.31. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $37.72 and a 200-day simple moving average of $36.42. The stock has a market capitalization of $9.95 billion, a P/E ratio of -18.21 and a beta of 1.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Robert W. Baird raised their price target on shares of APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. UBS Group lowered their target price on shares of APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial restated a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

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.