Bessemer Group Inc. Boosts Stake in APi Group Corporation $APG

Key Points

• Bessemer Group Inc. increased its APi Group stake by 0.7% in the fourth quarter, ending with 4,993,668 shares worth about $191.1 million.
• Insider selling was notable: Director Martin E. Franklin sold 3 million shares in March, and Director Ian G. H. Ashken sold 65,534 shares in May, bringing last-quarter insider sales to 5,126,000 shares.
• APi Group posted solid quarterly results, beating EPS estimates and topping revenue expectations with $1.98 billion in revenue, while analysts maintain a Moderate Buy consensus and an average price target of $52.14.

Bessemer Group Inc. raised its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,993,668 shares of the company's stock after acquiring an additional 33,390 shares during the period. Bessemer Group Inc. owned approximately 1.20% of APi Group worth $191,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in APG. Vanguard Group Inc. grew its position in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares during the period. Durable Capital Partners LP grew its position 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 valued at $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp grew its position in APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company's stock valued at $370,226,000 after acquiring an additional 3,620,931 shares during the period. Invesco Ltd. grew its position in APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company's stock valued at $175,627,000 after acquiring an additional 3,535,682 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in APi Group by 86.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,430,657 shares of the company's stock valued at $207,798,000 after acquiring an additional 2,511,993 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director Martin E. Franklin sold 3,000,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the sale, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 65,534 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total value of $2,981,141.66. Following the sale, the director owned 9,477,284 shares in the company, valued at $431,121,649.16. The trade was a 0.69% 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. Insiders have sold 5,126,000 shares of company stock worth $217,071,030 over the last quarter. 18.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on APG shares. Barclays reissued an "overweight" rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Robert W. Baird set a $52.00 target price on APi Group in a research report on Friday, May 1st. Royal Bank Of Canada upped their target price on APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Truist Financial set a $55.00 target price on APi Group and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.14.

APi Group Trading Up 2.0%

NYSE:APG opened at $44.11 on Friday. The business's 50-day simple moving average is $43.68 and its 200 day simple moving average is $41.50. APi Group Corporation has a one year low of $30.00 and a one year high of $49.99. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of -62.12, a price-to-earnings-growth ratio of 2.54 and a beta of 1.67. 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 announced 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. 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 for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. APi Group's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict 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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