APi Group Corporation $APG Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in shares of APi Group Corporation (NYSE:APG) by 47.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,089 shares of the company’s stock after purchasing an additional 108,433 shares during the period. Allianz Asset Management GmbH owned about 0.08% of APi Group worth $11,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APG. Truist Financial Corp raised its position in APi Group by 29.5% in the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after purchasing an additional 43,202 shares during the period. Campbell Newman Asset Management Inc. raised its holdings in APi Group by 50.5% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 76,095 shares of the company’s stock valued at $2,615,000 after buying an additional 25,519 shares during the period. Bridges Investment Management Inc. lifted its position in APi Group by 59.6% in the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock valued at $3,874,000 after buying an additional 42,111 shares during the last quarter. Rathbones Group PLC purchased a new position in APi Group during the second quarter worth about $2,094,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of APi Group by 128.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 246,294 shares of the company’s stock valued at $8,465,000 after acquiring an additional 138,369 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Anthony E. Malkin acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at $277,060. This represents a 75.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders bought 7,000 shares of company stock valued at $275,720. Company insiders own 17.00% of the company’s stock.

APi Group Stock Up 3.7%

Shares of NYSE APG opened at $44.55 on Monday. The stock has a market cap of $18.53 billion, a P/E ratio of 121.50 and a beta of 1.70. The business’s fifty day simple moving average is $40.58 and its 200-day simple moving average is $37.29. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $44.60. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APG. Barclays upped their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. UBS Group set a $49.00 price target on APi Group and gave the stock a “buy” rating in a research note on Thursday, January 15th. Citigroup reaffirmed a “buy” rating and issued a $49.00 price objective (up from $45.00) on shares of APi Group in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Finally, Truist Financial raised their target price on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.24.

APi Group Profile

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.