APi Group Corporation $APG Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its APi Group stake by 15.6% in the fourth quarter, selling 103,878 shares and leaving it with 561,672 shares valued at about $21.5 million.
• APi Group insiders were also active sellers: directors Ian G. H. Ashken and James E. Lillie sold shares in May, and insiders collectively sold 4.86 million shares worth $205.4 million over the last quarter.
• The company reported strong first-quarter results, beating EPS and revenue estimates with $0.32 EPS on $1.98 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $52.14.

Legal & General Group Plc lowered its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 561,672 shares of the company's stock after selling 103,878 shares during the quarter. Legal & General Group Plc owned approximately 0.14% of APi Group worth $21,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its holdings in APi Group by 628.7% during 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 in the last quarter. Coldstream Capital Management Inc. raised its holdings in APi Group by 14.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 13,437 shares of the company's stock worth $514,000 after purchasing an additional 1,689 shares in the last quarter. MJP Associates Inc. ADV acquired a new stake in APi Group during the fourth quarter worth approximately $200,000. Rathbones Group PLC raised its holdings in APi Group by 215.7% during the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company's stock worth $8,108,000 after purchasing an additional 144,789 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company's stock worth $32,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 65,534 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the sale, the director owned 9,477,284 shares of the company's stock, valued at approximately $431,121,649.16. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 15,648 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total value of $711,984.00. Following the completion of the sale, the director directly owned 1,275,019 shares of the company's stock, valued at approximately $58,013,364.50. This trade represents a 1.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 4,863,518 shares of company stock valued at $205,435,188. 18.70% of the stock is owned by company insiders.

APi Group Price Performance

Shares of NYSE APG opened at $40.96 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. The stock has a fifty day moving average price of $43.73 and a 200 day moving average price of $41.97. APi Group Corporation has a 1-year low of $30.63 and a 1-year high of $49.99. The company has a market cap of $17.74 billion, a PE ratio of -57.69, a P/E/G ratio of 2.41 and a beta of 1.60.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays reissued 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. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Weiss Ratings restated a "hold (c)" rating on shares of APi Group in a research report on Tuesday, May 26th. Finally, Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a "buy" rating in a research report on Friday, May 1st. 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 stock. Based on data from MarketBeat.com, APi Group presently has a consensus rating of "Moderate Buy" and an average target price of $52.14.

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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