State of Michigan Retirement System Raises Stock Position in APi Group Corporation $APG

State of Michigan Retirement System lifted its position in shares of APi Group Corporation (NYSE:APG) by 52.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,150 shares of the company’s stock after acquiring an additional 30,450 shares during the quarter. State of Michigan Retirement System’s holdings in APi Group were worth $3,030,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bares Capital Management Inc. acquired a new position in APi Group during the second quarter worth $30,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of APi Group during the 3rd quarter worth $31,000. Root Financial Partners LLC acquired a new position in shares of APi Group during the 3rd quarter worth $32,000. Cullen Frost Bankers Inc. boosted its position 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 buying an additional 1,048 shares in the last quarter. Finally, Whittier Trust Co. boosted its position 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 worth $39,000 after buying an additional 372 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Analyst Ratings Changes

APG has been the subject of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Barclays lifted their price objective on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Citigroup reaffirmed a “buy” rating and issued a $49.00 target price (up previously from $45.00) on shares of APi Group in a research note on Monday, January 12th. CJS Securities raised APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Truist Financial upped their price objective on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.24.

Insider Buying and Selling

In other APi Group news, Director Anthony E. Malkin bought 3,000 shares of APi Group stock in a transaction that occurred on Wednesday, December 10th. The shares were purchased at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 7,000 shares of company stock valued at $275,720 in the last ninety days. Corporate insiders own 17.00% of the company’s stock.

APi Group Stock Up 1.0%

APG stock opened at $45.26 on Wednesday. The company has a 50 day moving average price of $40.83 and a two-hundred day moving average price of $37.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The stock has a market capitalization of $18.82 billion, a P/E ratio of 123.44 and a beta of 1.70. APi Group Corporation has a one year low of $20.50 and a one year high of $45.54.

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.