Tema Etfs LLC Sells 96,031 Shares of APi Group Corporation $APG

Tema Etfs LLC lessened its stake in shares of APi Group Corporation (NYSE:APG) by 39.9% in the second quarter, HoldingsChannel reports. The firm owned 144,369 shares of the company’s stock after selling 96,031 shares during the quarter. APi Group makes up approximately 2.0% of Tema Etfs LLC’s holdings, making the stock its 6th biggest holding. Tema Etfs LLC’s holdings in APi Group were worth $7,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. increased its stake in APi Group by 15.4% in the second quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company’s stock valued at $3,605,000 after purchasing an additional 9,435 shares during the last quarter. Rathbones Group PLC acquired a new stake in APi Group in the 2nd quarter worth about $2,094,000. Capital Investment Services of America Inc. boosted its stake in APi Group by 5.4% in the 2nd quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock worth $20,283,000 after buying an additional 20,337 shares during the last quarter. Equitable Trust Co. grew its holdings in APi Group by 60.5% in the 2nd quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock valued at $1,710,000 after buying an additional 12,630 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of APi Group by 11.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 228,656 shares of the company’s stock valued at $11,673,000 after acquiring an additional 22,832 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on APG. Barclays increased their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Citigroup upped their price target on shares of APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of APi Group in a report on Monday. Finally, Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average target price of $38.52.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction 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 in the company, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 900,000 shares of company stock worth $32,342,000. 17.00% of the stock is currently owned by corporate insiders.

APi Group Stock Up 0.6%

APG opened at $38.96 on Friday. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $39.65. The firm has a 50 day moving average price of $36.10 and a 200 day moving average price of $34.72. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The company has a market cap of $16.20 billion, a PE ratio of 106.25 and a beta of 1.72.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. APi Group’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts expect that APi Group Corporation will post 1.83 earnings per share for the current year.

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.