Newbridge Financial Services Group Inc. Takes $1.34 Million Position in APi Group Corporation $APG

Newbridge Financial Services Group Inc. acquired a new stake in shares of APi Group Corporation (NYSE:APG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 38,838 shares of the company’s stock, valued at approximately $1,335,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC bought a new position in APi Group in the 1st quarter valued at $650,000. Goldman Sachs Group Inc. grew its position in shares of APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after purchasing an additional 75,490 shares in the last quarter. Bank of Montreal Can bought a new position in shares of APi Group in the second quarter worth $1,211,000. Simplex Trading LLC bought a new position in shares of APi Group in the second quarter worth $207,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of APi Group in the second quarter worth $197,000. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Down 2.2%

APG opened at $39.89 on Friday. The business’s fifty day simple moving average is $42.86 and its 200 day simple moving average is $38.72. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $46.89. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The stock has a market cap of $17.21 billion, a PE ratio of -52.72, a P/E/G ratio of 2.43 and a beta of 1.69.

APi Group (NYSE:APG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, research analysts expect that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 100,888 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $44.30, for a total value of $4,469,338.40. Following the completion of the sale, the director owned 9,706,462 shares in the company, valued at $429,996,266.60. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 114,409 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total value of $4,933,316.08. Following the completion of the sale, the director directly owned 10,633,830 shares of the company’s stock, valued at approximately $458,530,749.60. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 682,000 shares of company stock valued at $29,693,385. Corporate insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

APG has been the subject of several research analyst reports. Citigroup lifted their price objective on APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Barclays upped their target price on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Truist Financial lifted their price target on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. CJS Securities raised APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Royal Bank Of Canada upped their price objective on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.57.

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.