Wolverine Asset Management LLC Cuts Stake in APi Group Corporation $APG

Wolverine Asset Management LLC lessened its stake in shares of APi Group Corporation (NYSE:APG) by 38.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the company’s stock after selling 25,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in APi Group were worth $1,375,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in APi Group by 50.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock worth $44,000 after acquiring an additional 425 shares during the period. Ulland Investment Advisors LLC lifted its holdings in APi Group by 41.5% in the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $77,000 after buying an additional 440 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of APi Group by 1.2% during the second quarter. KLP Kapitalforvaltning AS now owns 43,000 shares of the company’s stock valued at $2,195,000 after acquiring an additional 500 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of APi Group by 9.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,941 shares of the company’s stock valued at $303,000 after acquiring an additional 521 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of APi Group by 7.9% during the second quarter. Atria Investments Inc now owns 7,642 shares of the company’s stock worth $390,000 after acquiring an additional 557 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity at APi Group

In related news, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction dated 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 directly owned 18,968,790 shares in the company, valued at $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony E. Malkin bought 3,000 shares of the stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the purchase, the director owned 7,000 shares in the company, valued at $277,060. This trade represents a 75.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 7,000 shares of company stock valued at $275,720 and have sold 900,000 shares valued at $32,342,000. Insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on APG shares. UBS Group set a $49.00 price objective on APi Group and gave the stock a “buy” rating in a report on Thursday. Citigroup restated a “buy” rating and issued a $49.00 price target (up previously from $45.00) on shares of APi Group in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Barclays upped their target price on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, CJS Securities upgraded 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 given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $41.24.

APi Group Trading Up 0.7%

Shares of NYSE APG opened at $42.83 on Friday. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $43.26. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 116.81 and a beta of 1.70. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $39.24 and its 200 day simple moving average is $36.44.

APi Group (NYSE:APG) last issued 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 for the quarter, compared to analyst estimates of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Equities research analysts expect that APi Group Corporation will post 1.83 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.