Corient Private Wealth LP Purchases 73,198 Shares of APi Group Corporation $APG

Key Points

• Corient Private Wealth increased its APi Group stake by 118.7% in the second quarter, purchasing 73,198 shares to own 134,856 shares valued at approximately $5.7 million. Institutional investors collectively own 86.62% of the company.
• APi Group insiders sold 660,000 shares worth roughly $26.4 million over the past 90 days, including significant sales by directors James E. Lillie and Ian G. H. Ashken under pre-arranged Rule 10b5-1 plans.
• The company exceeded quarterly earnings and revenue expectations, reporting adjusted EPS of $0.44 and revenue of $2.25 billion, up 13.3% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $52.57, compared with a recent share price of $37.41.

Corient Private Wealth LP grew its holdings in shares of APi Group Corporation (NYSE:APG - Free Report) by 118.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,856 shares of the company's stock after buying an additional 73,198 shares during the period. Corient Private Wealth LP's holdings in APi Group were worth $5,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. IFP Advisors Inc lifted its position in APi Group by 146.7% during the 4th quarter. IFP Advisors Inc now owns 824 shares of the company's stock valued at $32,000 after acquiring an additional 490 shares during the period. Root Financial Partners LLC increased its stake in shares of APi Group by 20.3% during the first quarter. Root Financial Partners LLC now owns 1,256 shares of the company's stock valued at $51,000 after purchasing an additional 212 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of APi Group by 29.2% during the fourth quarter. Allworth Financial LP now owns 1,677 shares of the company's stock valued at $64,000 after purchasing an additional 379 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of APi Group by 107.0% in the 4th quarter. Clearstead Advisors LLC now owns 1,720 shares of the company's stock worth $66,000 after purchasing an additional 889 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of APi Group by 84.4% in the 1st quarter. Whittier Trust Co. now owns 2,060 shares of the company's stock worth $87,000 after purchasing an additional 943 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at APi Group

In other APi Group news, Director James E. Lillie sold 285,000 shares of the 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 owned 8,952,350 shares in the company, valued at approximately $356,661,624. This represents a 3.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 214,928 shares of the business's stock in a transaction dated 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 transaction, the director owned 9,262,356 shares in the company, valued at $369,660,627.96. The trade was a 2.27% decrease in their ownership of the stock. 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 660,000 shares of company stock worth $26,353,682 in the last ninety days. Insiders own 18.70% of the company's stock.

APi Group Price Performance

Shares of APi Group stock opened at $37.41 on Friday. The stock has a market cap of $16.17 billion, a P/E ratio of -55.83, a P/E/G ratio of 2.16 and a beta of 1.60. 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's fifty day moving average is $40.29 and its 200 day moving average is $42.00. APi Group Corporation has a one year low of $33.40 and a one year high of $49.99.

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

Analyst Ratings Changes

Several analysts recently commented on APG shares. Robert W. Baird set a $47.00 price objective on shares of APi Group in a research report on Friday, July 31st. Wall Street Zen downgraded shares of APi Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Citigroup reiterated a "buy" rating and set a $54.00 price target (up from $53.00) on shares of APi Group in a report on Friday, July 31st. UBS Group set a $52.00 price target on shares of APi Group in a research report on Monday, July 20th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of APi Group in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned 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 a consensus target price of $52.57.

About APi Group

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.

Want to see what other hedge funds are holding APG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for APi Group Corporation (NYSE:APG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.