APi Group Corporation $APG Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in APi Group Corporation (NYSE:APG) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 561,672 shares of the company’s stock after selling 103,878 shares during the quarter. Legal & General Group Plc’s holdings in APi Group were worth $21,490,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in APG. Vanguard Group Inc. increased its position in shares of APi Group by 49.6% in the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after buying an additional 11,644,990 shares in the last quarter. Durable Capital Partners LP increased its position in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after buying an additional 4,274,610 shares in the last quarter. State Street Corp increased its position in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after buying an additional 3,620,931 shares in the last quarter. Invesco Ltd. increased its position in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after buying an additional 3,535,682 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of APi Group by 86.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,430,657 shares of the company’s stock valued at $207,798,000 after buying an additional 2,511,993 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APG shares. Barclays restated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. UBS Group raised their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup restated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada lifted their price objective on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.14.

Insider Buying and Selling at APi Group

In other news, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the transaction, the director directly owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. The trade was a 12.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James E. Lillie sold 15,648 shares of APi Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total value of $711,984.00. Following the completion of the transaction, the director directly owned 1,275,019 shares in the company, valued at $58,013,364.50. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,863,518 shares of company stock worth $205,435,188 in the last 90 days. 18.70% of the stock is owned by company insiders.

APi Group Stock Down 0.1%

APG opened at $40.96 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of -57.69, a price-to-earnings-growth ratio of 2.41 and a beta of 1.60. The business has a 50-day moving average of $43.73 and a two-hundred day moving average of $41.97. APi Group Corporation has a 12 month low of $30.63 and a 12 month high of $49.99.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. On average, research analysts expect that APi Group Corporation will post 1.7 earnings per share for the current year.

APi Group Company 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.