High Net Worth Advisory Group LLC Takes $474,000 Position in APi Group Corporation $APG

High Net Worth Advisory Group LLC bought a new position in APi Group Corporation (NYSE:APG) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,700 shares of the company’s stock, valued at approximately $474,000.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in APi Group during the 1st quarter valued at about $650,000. Goldman Sachs Group Inc. boosted its stake in APi Group by 73.6% during the first 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP grew its holdings in APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock worth $8,861,000 after purchasing an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC grew its holdings in APi Group by 5.7% in the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock worth $577,000 after purchasing an additional 612 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Insider Activity at APi Group

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the transaction, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 59,461 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were 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 in the company, valued at approximately $420,299,425. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,444,000 shares of company stock valued at $148,897,645 over the last ninety days. Insiders own 18.70% of the company’s stock.

APi Group Stock Performance

APG stock opened at $42.83 on Tuesday. The stock 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 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 stock’s 50 day simple moving average is $43.94 and its 200 day simple moving average is $42.44.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. As a group, research analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on APG. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup reiterated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Royal Bank Of Canada lifted their price objective on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, Truist Financial set a $55.00 target price on APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.14.

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.