APi Group Corporation $APG Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in shares of APi Group Corporation (NYSE:APG) by 52.8% during the third quarter, HoldingsChannel.com reports. The firm owned 88,150 shares of the company’s stock after acquiring an additional 30,450 shares during the period. State of Michigan Retirement System’s holdings in APi Group were worth $3,030,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in APG. Bares Capital Management Inc. acquired a new stake in shares of APi Group during the 2nd quarter worth $30,000. Steigerwald Gordon & Koch Inc. purchased a new stake in APi Group during the third quarter valued at about $31,000. Root Financial Partners LLC acquired a new stake in APi Group during the third quarter worth about $32,000. Cullen Frost Bankers Inc. raised its holdings in shares of APi Group by 2,620.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock worth $37,000 after purchasing an additional 1,048 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of APi Group by 49.9% in the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other APi Group news, Director Anthony E. Malkin bought 3,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, with a total value of $118,740.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at $277,060. The trade was a 75.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 7,000 shares of company stock worth $275,720 over the last 90 days. 17.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on APG shares. Royal Bank Of Canada reissued an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. UBS Group set a $49.00 target price on shares of APi Group and gave the company a “buy” rating in a research note on Thursday, January 15th. Citigroup reaffirmed a “buy” rating and set a $49.00 price target (up from $45.00) on shares of APi Group in a research report on Monday, January 12th. Finally, Barclays increased their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average target price of $43.24.

APi Group Price Performance

APG opened at $45.26 on Wednesday. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $45.54. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 123.44 and a beta of 1.70. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $40.83 and a 200 day simple moving average of $37.43.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.