Thrivent Financial for Lutherans Makes New Investment in APi Group Corporation $APG

Thrivent Financial for Lutherans acquired a new stake in shares of APi Group Corporation (NYSE:APG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 105,169 shares of the company’s stock, valued at approximately $5,369,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in APG. HighTower Advisors LLC increased its holdings in APi Group by 16.3% during the 1st quarter. HighTower Advisors LLC now owns 16,674 shares of the company’s stock worth $596,000 after purchasing an additional 2,335 shares in the last quarter. Cresset Asset Management LLC grew its holdings in APi Group by 3.6% during the first quarter. Cresset Asset Management LLC now owns 10,693 shares of the company’s stock worth $382,000 after buying an additional 374 shares in the last quarter. Raymond James Financial Inc. raised its position in APi Group by 2.4% in the 1st quarter. Raymond James Financial Inc. now owns 211,376 shares of the company’s stock valued at $7,559,000 after buying an additional 4,906 shares during the last quarter. Northern Trust Corp lifted its stake in APi Group by 4.0% during the 1st quarter. Northern Trust Corp now owns 1,338,675 shares of the company’s stock valued at $47,871,000 after acquiring an additional 51,932 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in APi Group by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company’s stock worth $581,073,000 after acquiring an additional 621,761 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a report on Monday, December 8th. Barclays increased their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Citigroup restated a “buy” rating and issued a $45.00 price objective (up previously from $43.00) on shares of APi Group in a research note on Monday, December 8th. Zacks Research cut APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

APi Group Trading Up 1.1%

Shares of APi Group stock opened at $38.88 on Friday. The stock has a market capitalization of $16.17 billion, a P/E ratio of 106.04 and a beta of 1.72. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $40.58. 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’s 50-day simple moving average is $37.08 and its 200 day simple moving average is $35.35.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. As a group, research analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

Insider Transactions at APi Group

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the sale, the director owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 900,000 shares of company stock worth $32,342,000. Insiders own 17.00% of the company’s stock.

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.