APi Group (NYSE:APG) Hits New 1-Year High on Insider Buying Activity

APi Group Corporation (NYSE:APG)’s stock price hit a new 52-week high on Monday after an insider bought additional shares in the company. The company traded as high as $42.32 and last traded at $42.3060, with a volume of 108762 shares traded. The stock had previously closed at $41.87.

Specifically, Director Anthony E. Malkin acquired 3,000 shares of APi Group stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the purchase, the director owned 7,000 shares in the company, valued at approximately $277,060. The trade was a 75.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony E. Malkin bought 2,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were bought at an average cost of $39.03 per share, with a total value of $78,060.00. Following the completion of the purchase, the director directly owned 4,000 shares in the company, valued at $156,120. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In related news, Director Anthony E. Malkin acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $39.46 per share, for a total transaction of $78,920.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at $78,920. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several analysts recently weighed in on APG shares. CJS Securities raised shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research downgraded shares of APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Barclays lifted their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.81.

APi Group Price Performance

The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 115.72 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The stock has a 50-day moving average price of $38.58 and a 200 day moving average price of $36.15.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. As a group, equities research analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APi Group

Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its stake in APi Group by 6.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,802 shares of the company’s stock worth $3,972,000 after buying an additional 4,919 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of APi Group by 15.4% during the 2nd quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company’s stock valued at $3,605,000 after acquiring an additional 9,435 shares during the last quarter. Rathbones Group PLC purchased a new position in shares of APi Group during the 2nd quarter worth about $2,094,000. Capital Investment Services of America Inc. boosted its position in shares of APi Group by 5.4% in the second quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock worth $20,283,000 after acquiring an additional 20,337 shares during the last quarter. Finally, Equitable Trust Co. boosted its position in shares of APi Group by 60.5% in the second quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock worth $1,710,000 after acquiring an additional 12,630 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Company 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.