Norden Group LLC Makes New $655,000 Investment in APi Group Corporation $APG

Norden Group LLC purchased a new position in APi Group Corporation (NYSE:APG) during the fourth quarter, Holdings Channel reports. The fund purchased 17,124 shares of the company’s stock, valued at approximately $655,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in APG. Allianz Asset Management GmbH lifted its stake in APi Group by 47.4% in the third quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock worth $11,586,000 after acquiring an additional 108,433 shares during the period. Bessemer Group Inc. increased its position in APi Group by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after purchasing an additional 2,077,705 shares during the period. Envestnet Asset Management Inc. increased its position in APi Group by 48.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock valued at $23,172,000 after purchasing an additional 220,551 shares during the period. Truist Financial Corp raised its holdings in APi Group by 29.5% in the 3rd quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock worth $6,523,000 after purchasing an additional 43,202 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its position in shares of APi Group by 59.6% in the 3rd quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock worth $3,874,000 after purchasing an additional 42,111 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Down 2.1%

NYSE:APG opened at $39.92 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43. The firm’s 50-day moving average price is $42.73 and its 200-day moving average price is $39.15. The company has a market capitalization of $17.22 billion, a PE ratio of -52.75, a P/E/G ratio of 2.38 and a beta of 1.69. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $46.89.

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, beating analysts’ consensus estimates of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the company posted $0.51 EPS. APi Group’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at APi Group

In other news, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. This trade represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owned 9,706,462 shares in the company, valued at approximately $429,996,266.60. This represents a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,682,000 shares of company stock valued at $152,333,385. Corporate insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. UBS Group increased their price target on shares of APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada raised their price objective on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Citigroup lifted their price objective on APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Barclays upped their target price on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.57.

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.