Virtu Financial LLC Makes New Investment in APi Group Co. (NYSE:APG)

Virtu Financial LLC acquired a new stake in APi Group Co. (NYSE:APG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,630 shares of the company’s stock, valued at approximately $813,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in APi Group by 109.8% in the 1st quarter. Comerica Bank now owns 5,641 shares of the company’s stock valued at $222,000 after buying an additional 2,952 shares during the period. Raymond James & Associates grew its holdings in APi Group by 13.1% in the second quarter. Raymond James & Associates now owns 144,599 shares of the company’s stock valued at $5,441,000 after purchasing an additional 16,746 shares during the period. Bank of New York Mellon Corp increased its position in APi Group by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 891,139 shares of the company’s stock worth $33,534,000 after purchasing an additional 73,573 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in APi Group by 4.5% during the second quarter. Verdence Capital Advisors LLC now owns 73,894 shares of the company’s stock worth $2,781,000 after purchasing an additional 3,177 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in APi Group by 17.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,669 shares of the company’s stock worth $1,305,000 after purchasing an additional 5,031 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Down 1.5 %

Shares of NYSE:APG opened at $37.63 on Friday. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of -19.10 and a beta of 1.55. The company has a 50 day moving average of $35.74 and a two-hundred day moving average of $35.71. APi Group Co. has a 52-week low of $30.26 and a 52-week high of $40.89. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96.

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

Insider Transactions at APi Group

In other news, Director James E. Lillie sold 11,568 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the completion of the sale, the director now owns 1,134,635 shares of the company’s stock, valued at approximately $41,958,802.30. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the sale, the director now directly owns 5,478,779 shares in the company, valued at $202,002,581.73. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their price objective on APi Group from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays raised their price objective on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a report on Friday, November 1st. Finally, William Blair reiterated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.43.

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.