Swedbank AB Sells 523,000 Shares of APi Group Corporation $APG

Swedbank AB reduced its stake in APi Group Corporation (NYSE:APG) by 28.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,310,000 shares of the company’s stock after selling 523,000 shares during the period. Swedbank AB’s holdings in APi Group were worth $50,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System lifted its holdings in APi Group by 0.3% during the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock worth $3,772,000 after acquiring an additional 277 shares in the last quarter. Silicon Valley Capital Partners lifted its holdings in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares in the last quarter. Parallel Advisors LLC lifted its holdings in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after acquiring an additional 297 shares in the last quarter. Wedmont Private Capital lifted its holdings in APi Group by 4.7% during the fourth quarter. Wedmont Private Capital now owns 7,655 shares of the company’s stock worth $314,000 after acquiring an additional 343 shares in the last quarter. Finally, Ellenbecker Investment Group lifted its holdings in APi Group by 4.5% during the fourth quarter. Ellenbecker Investment Group now owns 8,135 shares of the company’s stock worth $311,000 after acquiring an additional 347 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 1,018,466 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares of the company’s stock, valued at $426,850,249.14. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the sale, the director owned 9,296,811 shares of the company’s stock, valued at approximately $417,147,909.57. This represents a 2.37% decrease in their position. 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 have sold a total of 5,126,000 shares of company stock valued at $217,071,030 over the last 90 days. 18.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APG has been the topic of several recent analyst reports. Barclays lifted their target price on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Citigroup reaffirmed a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. UBS Group lifted their target price on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their target price on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, Truist Financial set a $55.00 target price on APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average target price of $51.86.

Key Stories Impacting APi Group

Here are the key news stories impacting APi Group this week:

• Positive Sentiment: APi reported an earnings beat for the quarter (EPS $0.32 vs. $0.30 consensus) and revenue of $1.98B vs. $1.92B expected; revenue rose ~15.3% year-over-year, supporting the stock’s upward move. MarketBeat APi Group report
• Neutral Sentiment: Director James E. Lillie executed multiple sales on May 4–5 totaling ~360,000 shares (several trades at ~$44.87–$45.50). Each sale was disclosed as executed under a pre-arranged Rule 10b5-1 plan; Lillie still holds a large stake. These planned sales are informative on supply but less indicative of new private views. SEC filing (Lillie)
• Neutral Sentiment: Director Ian G. H. Ashken sold 65,534 shares on May 5 at ~ $45.49 under a Rule 10b5-1 plan and still retains a multi-million-share position; the isolated smaller sale is likely neutral in isolation. SEC filing (Ashken)
• Negative Sentiment: Also on May 4, Ian G. H. Ashken sold a large block of 1,018,466 shares (?9.64% reduction of his stake) at ~ $44.73 (reported value ? $45.6M). Although executed under a pre-arranged plan, the size and concentration of this sale can be viewed negatively by the market and may add selling pressure. SEC filing (Ashken large sale)

APi Group Price Performance

Shares of NYSE APG opened at $46.42 on Thursday. The business’s 50 day moving average price is $43.75 and its two-hundred day moving average price is $41.10. The company has a market cap of $20.11 billion, a PE ratio of -65.38, a price-to-earnings-growth ratio of 2.68 and a beta of 1.67. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. APi Group Corporation has a twelve month low of $28.36 and a twelve month high of $49.99.

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