New York Life Investment Management LLC Has $512,000 Stock Holdings in APi Group Corporation $APG

New York Life Investment Management LLC cut its position in shares of APi Group Corporation (NYSE:APG) by 56.9% during the 4th quarter, Holdings Channel reports. The firm owned 13,372 shares of the company’s stock after selling 17,684 shares during the quarter. New York Life Investment Management LLC’s holdings in APi Group were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of APi Group during the 4th quarter worth about $27,000. Clearstead Advisors LLC increased its stake in shares of APi Group by 105.7% during the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after purchasing an additional 427 shares during the last quarter. Silicon Valley Capital Partners increased its stake in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 286 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after buying an additional 736 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other APi Group news, Director Martin E. Franklin sold 3,000,000 shares of the 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 transaction, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. This represents a 12.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. The trade was a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,126,000 shares of company stock worth $217,071,030 in the last quarter. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

APG has been the topic of a number of research reports. Robert W. Baird set a $52.00 price target on shares of APi Group in a research note on Friday, May 1st. UBS Group upped their price target on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. 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. Royal Bank Of Canada upped their price target on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average price target of $52.14.

APi Group Stock Up 2.3%

Shares of APG opened at $42.09 on Thursday. APi Group Corporation has a 52 week low of $30.00 and a 52 week high of $49.99. The firm has a market cap of $18.24 billion, a P/E ratio of -59.28, a price-to-earnings-growth ratio of 2.42 and a beta of 1.67. The firm’s 50-day simple moving average is $43.67 and its 200 day simple moving average is $41.71. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue was up 15.3% compared to the same quarter last year. On average, analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current year.

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.