APi Group Corporation $APG Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC trimmed its stake in shares of APi Group Corporation (NYSE:APG) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,935 shares of the company’s stock after selling 2,942 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in APi Group were worth $1,171,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. SVB Wealth LLC acquired a new stake in APi Group in the 1st quarter valued at about $38,000. Ulland Investment Advisors LLC increased its stake 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 buying an additional 440 shares during the period. GAMMA Investing LLC raised its holdings in APi Group by 105.5% in the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company’s stock valued at $55,000 after acquiring an additional 785 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in APi Group in the second quarter worth approximately $98,000. Finally, Vista Finance LLC purchased a new position in APi Group in the second quarter worth approximately $205,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG stock opened at $36.01 on Friday. The stock’s 50-day moving average is $34.88 and its two-hundred day moving average is $33.24. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $37.04. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 98.21 and a beta of 1.64.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $2.09 billion during 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 business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. APi Group has set its FY 2025 guidance at EPS. Analysts predict that APi Group Corporation will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday. Zacks Research downgraded APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised APi Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $31.00 to $42.00 in a research report on Tuesday, July 15th. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Citigroup upped their price target on APi Group from $42.00 to $43.00 and gave the company a “buy” rating in a report on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and an average target price of $38.52.

Insider Activity

In other news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was 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 directly owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. This represents a 1.76% decrease 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 hyperlink. Also, Director Ian G. H. Ashken sold 205,550 shares of APi Group stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $35.24, for a total transaction of $7,243,582.00. Following the completion of the transaction, the director directly owned 7,968,167 shares in the company, valued at $280,798,205.08. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,685,000 shares of company stock valued at $94,433,327. 17.00% of the stock is currently owned by company insiders.

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.