APi Group Corporation $APG Shares Acquired by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong boosted its APi Group stake by 15.3% in the fourth quarter, ending with 228,646 shares valued at about $8.75 million. Institutional ownership remains high at 86.62%.
• APi Group’s latest earnings beat expectations, with EPS of $0.32 versus the $0.30 consensus and revenue of $1.98 billion, above estimates. Revenue rose 15.3% year over year.
• Analyst sentiment is generally positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus target of $52.14. However, recent insider selling was notable, including Director Martin E. Franklin’s sale of 2 million shares.

Taikang Asset Management Hong Kong Co Ltd increased its holdings in APi Group Corporation (NYSE:APG - Free Report) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,646 shares of the company's stock after acquiring an additional 30,267 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd owned approximately 0.05% of APi Group worth $8,748,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Arizona State Retirement System increased its holdings in shares of APi Group by 0.3% in the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company's stock valued at $3,772,000 after acquiring an additional 277 shares during the period. Silicon Valley Capital Partners increased its holdings in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock valued at $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC increased its holdings in shares of 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 acquiring an additional 297 shares during the period. Bradley Foster & Sargent Inc. CT grew its position in APi Group by 0.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 103,073 shares of the company's stock valued at $3,944,000 after buying an additional 303 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its position in APi Group by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company's stock valued at $3,169,000 after buying an additional 314 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird set a $52.00 price objective on shares of APi Group in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on shares of APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Truist Financial set a $55.00 price objective on shares of APi Group and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Barclays reiterated an "overweight" rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, APi Group presently has an average rating of "Moderate Buy" and an average target price of $52.14.

APi Group Price Performance

Shares of NYSE APG opened at $42.48 on Wednesday. The firm has a market capitalization of $18.40 billion, a P/E ratio of -59.83, a PEG ratio of 2.44 and a beta of 1.60. APi Group Corporation has a one year low of $31.95 and a one year high of $49.99. The company's fifty day moving average is $43.99 and its two-hundred day moving average is $42.35. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business's revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. Analysts forecast that APi Group Corporation will post 1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction 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 sale, the director directly owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Lillie sold 59,461 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the sale, the director owned 9,237,350 shares in the company, valued at $420,299,425. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,444,000 shares of company stock worth $271,537,645. Corporate insiders own 18.70% of the company's stock.

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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