OP Asset Management Ltd Makes New $5.57 Million Investment in APi Group Corporation $APG

OP Asset Management Ltd bought a new position in shares of APi Group Corporation (NYSE:APG) during the 1st quarter, Holdings Channel reports. The firm bought 137,488 shares of the company’s stock, valued at approximately $5,571,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APG. Assenagon Asset Management S.A. lifted its position in APi Group by 145.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,647,576 shares of the company’s stock worth $66,760,000 after buying an additional 975,882 shares in the last quarter. Birch Financial Group LLC acquired a new stake in APi Group in the 1st quarter valued at about $201,000. High Net Worth Advisory Group LLC bought a new position in shares of APi Group in the first quarter worth about $474,000. Campbell Newman Asset Management Inc. raised its stake in shares of APi Group by 1.7% in the first quarter. Campbell Newman Asset Management Inc. now owns 74,554 shares of the company’s stock worth $3,021,000 after acquiring an additional 1,244 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of APi Group by 372.7% during the first quarter. SG Americas Securities LLC now owns 176,834 shares of the company’s stock worth $7,165,000 after purchasing an additional 139,421 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APG has been the topic of several research analyst reports. Barclays reissued an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. UBS Group increased their price objective on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup reissued a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Robert W. Baird set a $52.00 target price on APi Group in a research report on Friday, May 1st. Finally, Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and an average target price of $52.14.

Insider Buying and Selling

In related news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction 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 completion of the sale, the director directly owned 9,296,811 shares of the company’s stock, valued at $417,147,909.57. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,451,000 shares of company stock worth $149,194,935. Company insiders own 18.70% of the company’s stock.

APi Group Trading Down 1.4%

APG opened at $41.10 on Friday. The firm has a 50 day simple moving average of $43.68 and a 200 day simple moving average of $42.49. APi Group Corporation has a fifty-two week low of $32.70 and a fifty-two week high of $49.99. The company has a market cap of $17.81 billion, a price-to-earnings ratio of -57.89, a price-to-earnings-growth ratio of 2.45 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 announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.92 billion. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate 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.