Ancora Advisors LLC Boosts Stock Holdings in APi Group Corporation $APG

Ancora Advisors LLC lifted its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,163 shares of the company's stock after acquiring an additional 34,276 shares during the period. Ancora Advisors LLC owned approximately 0.08% of APi Group worth $14,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of APi Group by 1.1% during the first quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company's stock valued at $946,846,000 after purchasing an additional 250,873 shares in the last quarter. Durable Capital Partners LP increased its holdings in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock worth $512,050,000 after buying an additional 4,274,610 shares in the last quarter. Viking Global Investors LP raised its position in APi Group by 6.7% in the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock worth $422,967,000 after buying an additional 768,759 shares during the last quarter. State Street Corp raised its position in APi Group by 0.8% in the 4th quarter. State Street Corp now owns 10,863,164 shares of the company's stock worth $415,625,000 after buying an additional 91,388 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in APi Group by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company's stock worth $277,465,000 after buying an additional 624,529 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the company'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. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anthony E. Malkin sold 7,000 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The SEC filing for this sale provides additional information. Insiders sold a total of 2,667,000 shares of company stock valued at $110,810,972 in the last 90 days. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on APG shares. Weiss Ratings downgraded shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. UBS Group set a $52.00 target price on shares of APi Group in a research report on Monday, July 20th. Wells Fargo & Company assumed coverage on shares of APi Group in a research note on Tuesday, August 4th. They set an "overweight" rating and a $53.00 target price for the company. Robert W. Baird set a $47.00 price target on APi Group in a report on Friday, July 31st. Finally, Barclays restated an "overweight" rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.57.

APi Group Stock Down 1.0%

Shares of APG stock 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 market cap 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. The company has a 50 day simple moving average of $41.21 and a two-hundred day simple moving average of $42.58.

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

About APi Group

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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