Swiss National Bank Boosts Holdings in APi Group Corporation $APG

Swiss National Bank increased its stake in shares of APi Group Corporation (NYSE:APG) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 725,400 shares of the company’s stock after acquiring an additional 28,400 shares during the quarter. Swiss National Bank’s holdings in APi Group were worth $29,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APG. AQR Capital Management LLC acquired a new position in APi Group in the first quarter valued at $650,000. Goldman Sachs Group Inc. increased its position in shares of APi Group by 73.6% during the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after purchasing an additional 75,490 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of APi Group by 547.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after purchasing an additional 1,078 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of APi Group by 166.5% in the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after purchasing an additional 108,447 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of APi Group by 5.7% in the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after purchasing an additional 612 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Up 1.6%

APi Group stock opened at $39.59 on Friday. The stock has a 50 day moving average of $41.63 and a two-hundred day moving average of $42.78. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of -55.75, a PEG ratio of 2.28 and a beta of 1.60. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last released its earnings results 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 return on equity of 37.63% and a net margin of 3.85%.The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts expect that APi Group Corporation will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APG shares. Barclays restated 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. Citigroup reiterated a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Robert W. Baird set a $52.00 target price on shares of APi Group in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and an average target price of $53.17.

Insider Activity

In other APi Group 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 value of $297,290.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is owned by corporate insiders.

APi Group Company 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.