APi Group Corporation $APG Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services cut its APi Group stake by 38.7% in Q4, selling 332,344 shares and retaining 525,485 shares worth about $20.11 million.
• Insiders have been selling heavily: Director Martin E. Franklin sold 3,000,000 shares on March 19 for $122.64 million, and insiders disposed of 3,682,000 shares totaling $152.33 million over the last 90 days (insiders now own 17%).
• Analysts lifted price targets (UBS $54, Truist/RBC $53, Barclays/Citi $52) and the stock carries a consensus "Moderate Buy" rating with an average target of $48.57.

Massachusetts Financial Services Co. MA decreased its holdings in shares of APi Group Corporation (NYSE:APG - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 525,485 shares of the company's stock after selling 332,344 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.13% of APi Group worth $20,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APG. Vanguard Group Inc. raised its stake in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock worth $1,207,719,000 after acquiring an additional 11,644,990 shares during the period. Durable Capital Partners LP raised its stake in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock worth $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp raised its stake in APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company's stock worth $370,226,000 after acquiring an additional 3,620,931 shares during the period. Invesco Ltd. raised its stake in APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company's stock worth $175,627,000 after acquiring an additional 3,535,682 shares during the period. Finally, Artisan Partners Limited Partnership grew its position in APi Group by 49.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,292,986 shares of the company's stock worth $250,660,000 after purchasing an additional 2,414,841 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Insider Activity at APi Group

In related news, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the sale, the director directly owned 21,240,426 shares of the company's stock, valued at $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Lillie sold 83,629 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total transaction of $3,591,029.26. Following the sale, the director directly owned 9,522,350 shares of the company's stock, valued at approximately $408,889,709. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,682,000 shares of company stock valued at $152,333,385 over the last ninety days. Insiders own 17.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on APG. Barclays upped their target price on shares of APi Group from $44.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Citigroup upped their target price on shares of APi Group from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Truist Financial upped their target price on shares of APi Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Royal Bank Of Canada upped 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. Finally, UBS Group upped their target price on shares of APi Group from $49.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, APi Group currently has a consensus rating of "Moderate Buy" and an average target price of $48.57.

APi Group Trading Down 1.0%

APi Group stock opened at $44.43 on Friday. The firm has a 50 day simple moving average of $42.94 and a 200-day simple moving average of $39.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43. The stock has a market capitalization of $19.22 billion, a PE ratio of -58.72, a price-to-earnings-growth ratio of 2.68 and a beta of 1.68. APi Group Corporation has a 12-month low of $22.16 and a 12-month high of $46.89.

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