APi Group Corporation $APG Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of APi Group Corporation (NYSE:APG) by 23.5% in the 1st quarter, Holdings Channel reports. The fund owned 3,698,161 shares of the company’s stock after selling 1,133,058 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in APi Group were worth $153,585,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in APi Group in the 4th quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its position in APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after buying an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. IFP Advisors Inc boosted its stake in APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on APG shares. Citigroup restated a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays reissued an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, Robert W. Baird set a $52.00 price objective on shares of APi Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

APi Group Price Performance

APG opened at $40.80 on Friday. The stock’s 50-day moving average price is $42.05 and its 200 day moving average price is $42.76. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of -57.46, a PEG ratio of 2.41 and a beta of 1.60. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last released its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. As a group, sell-side analysts expect that APi Group Corporation will post 1.71 earnings per share for the current year.

Insider Buying and Selling at APi Group

In related news, Director Ian G. H. Ashken sold 1,018,466 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the sale, the director directly owned 9,542,818 shares of the company’s stock, valued at $426,850,249.14. This represents a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the sale, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. This trade represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 3,451,000 shares of company stock worth $149,194,935. 18.70% of the stock is owned by company insiders.

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.