Amundi Has $31.94 Million Holdings in APi Group Corporation $APG

Key Points

• Amundi increased its APi Group stake by 34.2% in the first quarter, bringing its holdings to 788,320 shares worth approximately $31.94 million. Institutional investors collectively own 86.62% of the company.
• APi Group insiders recently sold shares, including Director Martin E. Franklin’s sale of 2 million shares for $84.16 million. Company insiders still own 18.70% of outstanding stock.
• APi Group exceeded quarterly earnings and revenue expectations, reporting $0.44 in EPS and $2.25 billion in revenue, with revenue up 13.3% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $52.50.

Amundi boosted its holdings in APi Group Corporation (NYSE:APG - Free Report) by 34.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 788,320 shares of the company's stock after acquiring an additional 200,798 shares during the quarter. Amundi owned 0.18% of APi Group worth $31,943,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in APi Group by 35.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,297 shares of the company's stock worth $93,000 after purchasing an additional 607 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of APi Group by 22.3% in the first quarter. California State Teachers Retirement System now owns 411,451 shares of the company's stock valued at $16,672,000 after purchasing an additional 75,069 shares in the last quarter. Empowered Funds LLC bought a new position in shares of APi Group in the first quarter valued at approximately $3,092,000. Quantinno Capital Management LP boosted its position in shares of APi Group by 58.2% during the first quarter. Quantinno Capital Management LP now owns 84,197 shares of the company's stock valued at $3,412,000 after buying an additional 30,967 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new position in shares of APi Group during the first quarter valued at approximately $2,092,000. Institutional investors and hedge funds own 86.62% of the company's stock.

Insider Transactions at APi Group

In other news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director directly owned 19,240,426 shares of the company's stock, valued at $809,637,126.08. This represents a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony E. Malkin sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. The disclosure for this sale is available in the SEC filing. Company insiders own 18.70% of the company's stock.

APi Group Stock Up 0.5%

Shares of NYSE:APG opened at $39.90 on Tuesday. The company has a market capitalization of $17.28 billion, a PE ratio of -59.54, a price-to-earnings-growth ratio of 2.32 and a beta of 1.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. The business has a fifty day moving average price of $41.28 and a two-hundred day moving average price of $42.68. APi Group Corporation has a 1 year low of $33.40 and a 1 year high of $49.99.

APi Group (NYSE:APG - Get Free Report) last released its 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. The company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup reissued a "buy" rating and issued a $54.00 price target (up from $53.00) on shares of APi Group in a research report on Friday. Barclays reaffirmed an "overweight" rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. UBS Group set a $52.00 target price on shares of APi Group in a research note on Monday, July 20th. Wall Street Zen downgraded shares of APi Group from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Robert W. Baird set a $47.00 price target on shares of APi Group in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, APi Group presently has a consensus rating of "Moderate Buy" and an average target price of $52.50.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source