Insider Selling: APi Group Corporation (NYSE:APG) Director Sells 19,450 Shares of Stock

Key Points

• Director Ian G. H. Ashken sold 19,450 shares of APi Group stock for approximately $680,944.50 on August 11, reducing his ownership to 8,398,703 shares.
• APi Group's stock price increased by 1.1% to $35.85, reflecting a strong trading volume of over 3.3 million shares.
• The company reported a quarterly earnings per share (EPS) of $0.39, surpassing analyst estimates, and showed a 15% increase in revenue compared to the previous year.

APi Group Corporation (NYSE:APG - Get Free Report) Director Ian G. H. Ashken sold 19,450 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $35.01, for a total value of $680,944.50. Following the sale, the director owned 8,398,703 shares in the company, valued at approximately $294,038,592.03. This represents a 0.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

APi Group Trading Up 0.4%

APi Group stock traded up $0.15 during midday trading on Monday, reaching $35.43. The stock had a trading volume of 278,756 shares, compared to its average volume of 3,075,927. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.87. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $36.55. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of 110.74 and a beta of 1.56. The company has a fifty day moving average of $34.14 and a 200 day moving average of $28.98.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. APi Group had a net margin of 3.35% and a return on equity of 21.33%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $0.49 EPS. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised APi Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $31.00 to $42.00 in a research note on Tuesday, July 15th. Royal Bank Of Canada reiterated an "outperform" rating and set a $34.67 target price on shares of APi Group in a report on Friday, June 27th. UBS Group lifted their target price on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Barclays reissued an "overweight" rating and set a $42.00 price objective (up previously from $40.00) on shares of APi Group in a research report on Monday, August 4th. Finally, Robert W. Baird lifted their target price on shares of APi Group from $31.33 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $36.10.

Hedge Funds Weigh In On APi Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in APi Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company's stock worth $1,199,357,000 after purchasing an additional 453,543 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of APi Group by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock worth $581,073,000 after purchasing an additional 621,761 shares in the last quarter. Capital Research Global Investors boosted its position in shares of APi Group by 118.2% in the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock worth $393,774,000 after purchasing an additional 5,931,314 shares in the last quarter. Durable Capital Partners LP boosted its position in shares of APi Group by 19.2% in the 2nd quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company's stock worth $542,333,000 after purchasing an additional 1,712,397 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of APi Group by 19.2% in the fourth quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock worth $359,811,000 after buying an additional 1,611,744 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors.

About APi Group

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.