Swedbank AB reduced its holdings in APi Group Corporation (NYSE:APG – Free Report) by 28.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,310,000 shares of the company’s stock after selling 523,000 shares during the quarter. Swedbank AB’s holdings in APi Group were worth $50,121,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in APi Group in the fourth quarter valued at $27,000. Clearstead Advisors LLC increased its stake in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the last quarter. Silicon Valley Capital Partners increased its stake 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 purchasing an additional 286 shares during the last quarter. Parallel Advisors LLC increased its stake 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 purchasing an additional 297 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after purchasing an additional 736 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.
APi Group Price Performance
Shares of NYSE APG opened at $41.65 on Monday. APi Group Corporation has a 1-year low of $30.00 and a 1-year high of $49.99. The business has a 50-day moving average of $43.67 and a 200-day moving average of $41.79. 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 company has a market capitalization of $18.04 billion, a price-to-earnings ratio of -58.66, a PEG ratio of 2.45 and a beta of 1.67.
Insider Transactions at APi Group
In other news, Director Martin E. Franklin sold 3,000,000 shares of the company’s 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 completion of the sale, the director owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 65,534 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the sale, the director directly owned 9,477,284 shares of the company’s stock, valued at $431,121,649.16. The trade was a 0.69% 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 sold 5,126,000 shares of company stock valued at $217,071,030 over the last quarter. Company insiders own 18.70% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on APG shares. UBS Group upped their target price on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays reissued 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. Truist Financial set a $55.00 price target on APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. 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 stock. According to MarketBeat.com, APi Group has an average rating of “Moderate Buy” and a consensus target price of $52.14.
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.
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