65,700 Shares in APi Group Corporation $APG Purchased by Aubrey Capital Management Ltd

Key Points

• Aubrey Capital Management initiated a 65,700-share position in APi Group worth approximately $2.8 million, while institutional investors collectively own 86.62% of the stock.
• APi Group insiders sold 2.667 million shares worth about $110.8 million over the past 90 days, including substantial sales by directors Martin E. Franklin and Ian G. H. Ashken.
• The company exceeded quarterly expectations with EPS of $0.44 and revenue of $2.25 billion, up 13.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $52.57 versus the stock’s $39.31 opening price.

Aubrey Capital Management Ltd bought a new position in APi Group Corporation (NYSE:APG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,700 shares of the company's stock, valued at approximately $2,782,000. APi Group comprises about 1.7% of Aubrey Capital Management Ltd's portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of APi Group in the fourth quarter worth $5,593,000. Northwestern Mutual Wealth Management Co. lifted its holdings in APi Group by 5,212.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company's stock valued at $15,747,000 after acquiring an additional 403,842 shares during the period. Hantz Financial Services Inc. boosted its position in APi Group by 628.7% in the fourth quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company's stock worth $6,658,000 after purchasing an additional 150,139 shares during the last quarter. Principal Financial Group Inc. boosted its position in APi Group by 7.5% in the first quarter. Principal Financial Group Inc. now owns 855,638 shares of the company's stock worth $34,670,000 after purchasing an additional 59,715 shares during the last quarter. Finally, M.D. Sass LLC grew its stake in shares of APi Group by 3.4% during the 4th quarter. M.D. Sass LLC now owns 2,005,327 shares of the company's stock valued at $76,724,000 after purchasing an additional 66,753 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Insider Activity at APi Group

In other news, Director Ian G. H. Ashken sold 214,928 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the completion of the transaction, the director owned 9,262,356 shares in the company, valued at $369,660,627.96. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,667,000 shares of company stock worth $110,810,972 over the last 90 days. Company insiders own 18.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on APG shares. Citigroup reiterated a "buy" rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Wall Street Zen cut APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Barclays reaffirmed an "overweight" rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Weiss Ratings cut APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Finally, Wells Fargo & Company assumed coverage on APi Group in a research note on Tuesday, August 4th. They set an "overweight" rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.57.

APi Group Stock Performance

NYSE:APG opened at $39.31 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The stock has a 50-day moving average price of $41.21 and a 200 day moving average price of $42.58. The stock has a market capitalization of $16.99 billion, a P/E ratio of -58.67, a P/E/G ratio of 2.31 and a beta of 1.60.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the firm earned $0.39 EPS. The firm's revenue was up 13.3% compared to the same quarter last year. Equities research analysts forecast that APi Group Corporation will post 1.72 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.