Swedbank AB Sells 251,000 Shares of APi Group Corporation $APG

Swedbank AB lessened its position in APi Group Corporation (NYSE:APG) by 19.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,059,000 shares of the company’s stock after selling 251,000 shares during the period. Swedbank AB owned 0.24% of APi Group worth $42,911,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Whittier Trust Co. grew its holdings in shares of APi Group by 84.4% during the first quarter. Whittier Trust Co. now owns 2,060 shares of the company’s stock worth $87,000 after purchasing an additional 943 shares during the last quarter. Montrusco Bolton Investments Inc. raised its holdings in APi Group by 50.5% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,652,145 shares of the company’s stock valued at $183,537,000 after buying an additional 1,561,990 shares during the last quarter. Praxis Investment Management Inc. boosted its position in APi Group by 4.9% during the 1st quarter. Praxis Investment Management Inc. now owns 12,619 shares of the company’s stock worth $511,000 after buying an additional 589 shares during the period. Koshinski Asset Management Inc. boosted its position in APi Group by 128.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 18,662 shares of the company’s stock worth $756,000 after buying an additional 10,493 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in APi Group by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 8,446 shares of the company’s stock worth $342,000 after acquiring an additional 859 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the transaction, the director directly owned 9,477,284 shares in the company, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,451,000 shares of company stock worth $149,194,935. Corporate insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

APG has been the subject of several analyst reports. Truist Financial set a $55.00 price target on shares of APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays reissued an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Robert W. Baird set a $52.00 price objective on APi Group in a report on Friday, May 1st. Citigroup reaffirmed a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Finally, UBS Group lifted their target price on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average price target of $52.14.

APi Group Stock Up 0.5%

Shares of APi Group stock opened at $41.51 on Thursday. The stock’s 50-day moving average is $42.70 and its 200 day moving average is $42.67. APi Group Corporation has a one year low of $33.40 and a one year high of $49.99. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of -58.46, a PEG ratio of 2.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36.

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

About APi Group

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.