APi Group Co. (NYSE:APG) Director Sells $6,408,000.00 in Stock

APi Group Co. (NYSE:APG) Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the sale, the director now owns 5,612,102 shares in the company, valued at approximately $239,748,997.44. This represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

APi Group Price Performance

APi Group stock opened at $44.10 on Friday. APi Group Co. has a 12-month low of $30.76 and a 12-month high of $44.37. The stock has a market cap of $12.21 billion, a P/E ratio of -22.39 and a beta of 1.54. The company has a 50-day moving average price of $36.84 and a 200 day moving average price of $37.05. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

APi Group (NYSE:APG) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $0.34 earnings per share. APi Group’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that APi Group Co. will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On APi Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APG. Charles Schwab Investment Management Inc. raised its position in APi Group by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,881,129 shares of the company’s stock valued at $67,269,000 after purchasing an additional 41,643 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in APi Group by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock valued at $194,000 after acquiring an additional 303 shares in the last quarter. TradeLink Capital LLC purchased a new position in APi Group in the first quarter worth approximately $200,000. Natixis Advisors LLC increased its position in shares of APi Group by 4.3% in the 1st quarter. Natixis Advisors LLC now owns 265,250 shares of the company’s stock valued at $9,485,000 after purchasing an additional 10,947 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of APi Group by 10.6% in the 1st quarter. Federated Hermes Inc. now owns 41,333 shares of the company’s stock valued at $1,478,000 after purchasing an additional 3,969 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APG. Royal Bank of Canada raised shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, January 14th. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. Barclays raised their price objective on APi Group from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Robert W. Baird increased their target price on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, UBS Group cut their price target on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.