State of Alaska Department of Revenue Grows Stake in APi Group Corporation $APG

State of Alaska Department of Revenue lifted its position in APi Group Corporation (NYSE:APG) by 61.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,459 shares of the company’s stock after purchasing an additional 15,459 shares during the quarter. State of Alaska Department of Revenue’s holdings in APi Group were worth $1,390,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in APi Group by 50.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock worth $44,000 after buying an additional 425 shares in the last quarter. Ulland Investment Advisors LLC grew its holdings in shares of APi Group by 41.5% during the second quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $77,000 after purchasing an additional 440 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings 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 worth $2,195,000 after purchasing an additional 500 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of APi Group by 9.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,941 shares of the company’s stock worth $303,000 after purchasing an additional 521 shares during the last quarter. Finally, Atria Investments Inc raised its stake in APi Group by 7.9% in the second quarter. Atria Investments Inc now owns 7,642 shares of the company’s stock valued at $390,000 after purchasing an additional 557 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. CJS Securities upgraded APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. UBS Group set a $49.00 price target on APi Group and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup reiterated a “buy” rating and set a $49.00 price objective (up from $45.00) on shares of APi Group in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.24.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, with a total value of $118,740.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. This trade represents a 75.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the sale, the director owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. The trade was a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 7,000 shares of company stock worth $275,720 and have sold 900,000 shares worth $32,342,000. 17.00% of the stock is owned by company insiders.

APi Group Stock Performance

APi Group stock opened at $42.83 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $17.81 billion, a PE ratio of 116.81 and a beta of 1.70. The firm has a fifty day simple moving average of $39.24 and a two-hundred day simple moving average of $36.42. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $43.26.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. Research analysts expect that APi Group Corporation will post 1.83 EPS for the current year.

APi Group 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.