Taikang Asset Management Hong Kong Co Ltd Makes New Investment in APi Group Co. (NYSE:APG)

Taikang Asset Management Hong Kong Co Ltd bought a new stake in APi Group Co. (NYSE:APG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 96,000 shares of the company’s stock, valued at approximately $3,453,000.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of APi Group by 19.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock valued at $277,079,000 after buying an additional 1,351,013 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of APi Group by 1,106.9% during the fourth quarter. Handelsbanken Fonder AB now owns 643,300 shares of the company’s stock worth $23,140,000 after acquiring an additional 590,000 shares in the last quarter. Two Sigma Advisers LP boosted its position in APi Group by 124.7% during the third quarter. Two Sigma Advisers LP now owns 894,600 shares of the company’s stock valued at $29,540,000 after purchasing an additional 496,500 shares during the last quarter. Progeny 3 Inc. increased its position in APi Group by 24.2% in the 3rd quarter. Progeny 3 Inc. now owns 2,298,025 shares of the company’s stock worth $75,881,000 after purchasing an additional 447,200 shares during the last quarter. Finally, GW&K Investment Management LLC increased its position in APi Group by 19.7% in the 4th quarter. GW&K Investment Management LLC now owns 2,631,409 shares of the company’s stock worth $94,652,000 after purchasing an additional 432,926 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other APi Group 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 18.20% of the stock is owned by insiders.

APi Group Stock Up 3.5 %

APG stock opened at $38.43 on Tuesday. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of -19.51 and a beta of 1.54. The company has a 50-day moving average of $37.85 and a two-hundred day moving average of $36.29. APi Group Co. has a 52-week low of $31.44 and a 52-week high of $41.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird boosted their price target on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Royal Bank of Canada raised shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, January 14th. Citigroup lowered their target price on shares of APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, UBS Group reduced their price target on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.43.

APi Group Company 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.