The Manufacturers Life Insurance Company Sells 17,905 Shares of APi Group Corporation $APG

The Manufacturers Life Insurance Company lessened its holdings in shares of APi Group Corporation (NYSE:APG) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,329 shares of the company’s stock after selling 17,905 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of APi Group worth $10,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC grew its position in shares of APi Group by 20.3% in the 1st quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock worth $51,000 after buying an additional 212 shares during the last quarter. Arizona State Retirement System lifted its stake in APi Group by 0.3% in 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 during the period. Triad Wealth Partners LLC lifted its stake in APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock worth $415,000 after acquiring an additional 283 shares during the period. Silicon Valley Capital Partners boosted its holdings in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 286 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on APG. Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of APi Group from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays reiterated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Finally, Citigroup reaffirmed a “buy” rating and set a $54.00 price objective (up from $53.00) on shares of APi Group in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Insider Activity

In related news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.70% of the company’s stock.

APi Group Stock Performance

Shares of APi Group stock opened at $39.90 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $17.28 billion, a P/E ratio of -59.54, a P/E/G ratio of 2.32 and a beta of 1.60. The business has a fifty day simple moving average of $41.28 and a two-hundred day simple moving average of $42.68. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99.

APi Group (NYSE:APG) last released its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

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.