High Net Worth Advisory Group LLC acquired a new stake in shares of APi Group Corporation (NYSE:APG – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,700 shares of the company’s stock, valued at approximately $474,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in APi Group during the 1st quarter valued at $650,000. Goldman Sachs Group Inc. grew its holdings in APi Group by 73.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after acquiring an additional 75,490 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after acquiring an additional 1,078 shares during the period. First Trust Advisors LP increased its position in shares of APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after acquiring an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC raised its stake in shares of APi Group by 5.7% during the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after acquiring an additional 612 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on APG. Citigroup reiterated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Royal Bank Of Canada upped their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Finally, UBS Group lifted their price objective on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.14.
Insiders Place Their Bets
In other APi Group news, Director James E. Lillie sold 59,461 shares of APi Group stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the sale, the director directly owned 9,237,350 shares of the company’s stock, valued at approximately $420,299,425. The trade was a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the sale, the director directly owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,444,000 shares of company stock worth $148,897,645 over the last three months. Company insiders own 18.70% of the company’s stock.
APi Group Stock Up 0.7%
Shares of NYSE APG opened at $42.83 on Tuesday. The firm has a fifty day simple moving average of $43.94 and a two-hundred day simple moving average of $42.44. APi Group Corporation has a 12 month low of $32.70 and a 12 month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $18.56 billion, a PE ratio of -60.32, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60.
APi Group (NYSE:APG – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts expect that APi Group Corporation will post 1.7 earnings per share for the current 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.
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