Allspring Global Investments Holdings LLC Buys 92,816 Shares of APi Group Corporation $APG

Key Points

• Allspring Global Investments Holdings LLC raised its stake in APi Group by 2.0%, buying 92,816 shares to hold 4,831,219 shares (1.16% ownership) valued at about $188.27 million; institutional investors now own 86.62% of the company.
• Insiders have been net sellers: directors Ian G. H. Ashken and James E. Lillie sold 72,546 and 83,629 shares respectively at $42.94 on March 4, and insiders have sold 3,682,000 shares worth $152.33 million in the past 90 days while retaining 17.0% ownership.
• Analyst sentiment is largely positive — one Strong Buy, seven Buy and two Hold produce a consensus "Moderate Buy" with an average price target of $48.57 — and APi Group recently beat quarterly estimates with $0.44 EPS vs. $0.40 and $2.12 billion in revenue, up 13.8% year-over-year.

Allspring Global Investments Holdings LLC increased its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,831,219 shares of the company's stock after purchasing an additional 92,816 shares during the period. Allspring Global Investments Holdings LLC owned 1.16% of APi Group worth $188,273,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC increased its holdings in 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 acquiring an additional 427 shares during the period. Parallel Advisors LLC boosted its holdings in APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company's stock valued at $29,000 after purchasing an additional 297 shares during the period. Silicon Valley Capital Partners grew its position 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 valued at $29,000 after purchasing an additional 286 shares in the last quarter. Bares Capital Management Inc. purchased a new position in shares of APi Group during the 2nd quarter valued at $30,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of APi Group in the third quarter worth approximately $31,000. Institutional investors own 86.62% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. CJS Securities upgraded shares of APi Group to a "strong-buy" rating in a research report on Thursday, December 11th. Citigroup boosted their price objective on APi Group from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Truist Financial raised their target price on shares of APi Group from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of APi Group in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.57.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 72,546 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,115,125.24. Following the sale, the director owned 10,561,284 shares in the company, valued at $453,501,534.96. This represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Lillie sold 83,629 shares of APi Group stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the transaction, the director owned 9,522,350 shares of the company's stock, valued at $408,889,709. The trade was a 0.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,682,000 shares of company stock valued at $152,333,385 in the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

APi Group Stock Down 2.0%

Shares of APi Group stock opened at $39.12 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $46.89. The company has a market cap of $16.88 billion, a P/E ratio of -51.70, a PEG ratio of 2.38 and a beta of 1.69. The company's fifty day simple moving average is $42.65 and its two-hundred day simple moving average is $39.20.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The company had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

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.

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