APi Group Corporation $APG Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System cut its APi Group stake by 2.5%, selling 10,222 shares and retaining 401,229 shares valued at approximately $17 million. Institutional investors collectively own 86.62% of the company.
• APi Group reported quarterly EPS of $0.44, slightly above estimates, while revenue rose 13.3% year over year to $2.25 billion. The stock recently traded at $37.13, near the lower end of its 52-week range.
• Insiders sold 667,000 shares worth about $26.7 million over the past three months, while analysts maintained an overall “Buy” consensus with an average price target of $52.57.

California State Teachers Retirement System reduced its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 401,229 shares of the company's stock after selling 10,222 shares during the period. California State Teachers Retirement System owned about 0.09% of APi Group worth $16,992,048 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APG. Wedmont Private Capital raised its stake in shares of APi Group by 9.4% in the second quarter. Wedmont Private Capital now owns 8,834 shares of the company's stock valued at $365,000 after purchasing an additional 758 shares in the last quarter. AlphaGrep UK Ltd bought a new stake in shares of APi Group during the second quarter worth about $415,000. Nykredit A S acquired a new stake in APi Group in the second quarter worth $556,000. Aubrey Capital Management Ltd purchased a new position in APi Group in the second quarter worth $2,782,000. Finally, JNBA Financial Advisors increased its stake in APi Group by 66.6% in the 2nd quarter. JNBA Financial Advisors now owns 699,242 shares of the company's stock worth $29,613,000 after acquiring an additional 279,448 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anthony E. Malkin sold 7,000 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 85,072 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total value of $3,433,505.92. Following the completion of the sale, the director directly owned 9,177,284 shares of the company's stock, valued at approximately $370,395,182.24. The trade was a 0.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 667,000 shares of company stock worth $26,650,972. 18.70% of the stock is currently owned by corporate insiders.

APi Group Price Performance

APi Group stock traded up $0.01 during midday trading on Tuesday, hitting $37.13. 1,256,582 shares of the company's stock were exchanged, compared to its average volume of 2,885,839. The company has a market cap of $16.05 billion, a P/E ratio of -55.42, a PEG ratio of 2.21 and a beta of 1.60. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a 50-day moving average price of $40.64 and a two-hundred day moving average price of $42.19.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. APi Group's revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that APi Group Corporation will post 1.72 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on APG shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of APi Group in a report on Tuesday, September 8th. Wall Street Zen lowered shares of APi Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Citigroup reaffirmed a "buy" rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. UBS Group set a $52.00 target price on APi Group in a research note on Monday, July 20th. Finally, Wells Fargo & Company initiated coverage on shares of APi Group in a research report on Tuesday, August 4th. They issued an "overweight" rating and a $53.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $52.57.

APi Group Profile

APi Group Corporation NYSE: APG is a global provider of safety and specialty services for commercial, industrial, infrastructure and residential customers. Through a network of operating companies, it helps customers design, install, inspect, maintain and repair critical building and infrastructure systems.

The company's services include fire protection and life-safety systems, heating, ventilation and air conditioning, plumbing, electrical work, specialty contracting, industrial maintenance, infrastructure services, security systems, environmental services and emergency response.

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