APi Group Corporation $APG Stock Holdings Trimmed by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its APi Group stake by 2.6% in the third quarter, selling 30,285 shares and retaining 1.12 million shares valued at approximately $43.2 million. Institutional investors collectively own 86.62% of APG.
• APG shares rose 1.9% to $41.45, while the company’s latest quarterly results exceeded expectations with $0.44 in earnings per share and $2.25 billion in revenue, up 13.3% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $52.57. However, insiders sold 660,000 shares worth about $26.4 million over the past 90 days under pre-arranged trading plans.

Congress Asset Management Co. reduced its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,119,006 shares of the company's stock after selling 30,285 shares during the period. Congress Asset Management Co. owned 0.26% of APi Group worth $43,194,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Milford Funds Ltd. purchased a new stake in APi Group in the 4th quarter valued at $124,486,000. Bank of New York Mellon Corp purchased a new stake in shares of APi Group in the second quarter valued at about $93,030,000. Royal London Asset Management Ltd. increased its position in APi Group by 367.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 2,613,877 shares of the company's stock worth $100,007,000 after purchasing an additional 2,054,527 shares during the last quarter. Montrusco Bolton Investments Inc. raised its stake in APi Group by 50.5% during the first quarter. Montrusco Bolton Investments Inc. now owns 4,652,145 shares of the company's stock worth $183,537,000 after purchasing an additional 1,561,990 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in APi Group by 145.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,647,576 shares of the company's stock worth $66,760,000 after purchasing an additional 975,882 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

APi Group Trading Up 1.9%

Shares of APG stock traded up $0.79 during trading hours on Tuesday, hitting $41.45. The company had a trading volume of 2,674,414 shares, compared to its average volume of 2,938,518. The company's fifty day moving average is $40.03 and its 200 day moving average is $41.75. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. APi Group Corporation has a fifty-two week low of $33.52 and a fifty-two week high of $49.99. The stock has a market capitalization of $17.91 billion, a PE ratio of -61.87, a price-to-earnings-growth ratio of 2.36 and a beta of 1.57.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on APG shares. UBS Group set a $52.00 price target on shares of APi Group in a research note on Monday, July 20th. Citigroup reiterated a "buy" rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a report on Friday, July 31st. Wall Street Zen lowered APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded APi Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Finally, Wells Fargo & Company assumed coverage on APi Group in a research note on Tuesday, August 4th. They issued an "overweight" rating and a $53.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $52.57.

Insider Buying and Selling at APi Group

In other news, Director James Lillie sold 285,000 shares of APi Group stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $39.84, for a total value of $11,354,400.00. Following the completion of the sale, the director directly owned 8,952,350 shares of the company's stock, valued at approximately $356,661,624. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Ashken sold 214,928 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.91, for a total value of $8,577,776.48. Following the completion of the sale, the director owned 9,262,356 shares in the company, valued at $369,660,627.96. This represents a 2.27% 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 90 days, insiders have sold 660,000 shares of company stock valued at $26,353,682. Company insiders own 18.70% of the company's stock.

APi Group Company Profile

APi Group Corporation NYSE: APG is a global provider of industrial, commercial and infrastructure services. The company delivers specialized services that help customers design, install, maintain and repair essential systems across buildings, facilities and infrastructure assets.

APi Group's operations include fire protection and life-safety services, heating, ventilation and air conditioning, electrical and communications work, utility and infrastructure services, industrial maintenance, specialty contracting and other facility services.

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