Arrow Capital Management LLC Buys New Holdings in APi Group Corporation $APG

Arrow Capital Management LLC bought a new position in APi Group Corporation (NYSE:APG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 160,896 shares of the company's stock, valued at approximately $6,156,000. APi Group accounts for 3.6% of Arrow Capital Management LLC's investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors have also recently bought and sold shares of APG. Arizona State Retirement System raised its stake 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 buying an additional 277 shares in the last quarter. Silicon Valley Capital Partners raised its position in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock worth $29,000 after purchasing an additional 286 shares in the last quarter. Parallel Advisors LLC lifted its stake in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after purchasing an additional 297 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in APi Group by 0.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 103,073 shares of the company's stock worth $3,944,000 after purchasing an additional 303 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted its holdings in APi Group by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company's stock valued at $3,169,000 after purchasing an additional 314 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Insider Activity

In related news, Director James E. Lillie sold 59,461 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the transaction, the director owned 9,237,350 shares in the company, valued at $420,299,425. This represents a 0.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was 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. This represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,444,000 shares of company stock worth $148,897,645. 18.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays reiterated an "overweight" rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Royal Bank Of Canada boosted their price target on APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Truist Financial set a $55.00 price target on APi Group and gave the company a "buy" rating in a research note on Friday, May 1st. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings lowered APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.14.

APi Group Stock Up 1.8%

NYSE APG opened at $42.55 on Friday. The stock's 50 day simple moving average is $44.00 and its 200 day simple moving average is $42.39. APi Group Corporation has a one year low of $32.70 and a one year high of $49.99. The firm has a market cap of $18.43 billion, a PE ratio of -59.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.60. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36.

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