Handelsbanken Fonder AB Trims Stock Position in APi Group Corporation $APG

Key Points

• Handelsbanken Fonder AB reduced its APi Group stake by 12.9% in the fourth quarter, selling 165,400 shares and ending with 1,114,000 shares worth about $42.6 million.
• Insider selling has been heavy: directors Ian G. H. Ashken and James E. Lillie sold more than 1.2 million shares combined on May 4, and insiders have sold 5.126 million shares over the last 90 days.
• APi Group beat quarterly earnings expectations with EPS of $0.32 on revenue of $1.98 billion, while analysts remain mostly bullish with an average Moderate Buy rating and a target price around $52.14.

Handelsbanken Fonder AB cut its stake in APi Group Corporation (NYSE:APG - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,114,000 shares of the company's stock after selling 165,400 shares during the period. Handelsbanken Fonder AB owned about 0.27% of APi Group worth $42,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APG. Vanguard Group Inc. raised its holdings in shares of APi Group by 49.6% in the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock valued at $1,207,719,000 after buying an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP raised its holdings in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock valued at $512,050,000 after buying an additional 4,274,610 shares during the last quarter. State Street Corp raised its holdings in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company's stock valued at $370,226,000 after buying an additional 3,620,931 shares during the last quarter. Invesco Ltd. raised its holdings in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company's stock valued at $175,627,000 after buying an additional 3,535,682 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of APi Group by 86.1% in 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 buying an additional 2,511,993 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 1,018,466 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares of the company's stock, valued at approximately $426,850,249.14. This represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director directly owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. This represents a 2.37% 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. Over the last 90 days, insiders have sold 5,126,000 shares of company stock valued at $217,071,030. Company insiders own 18.70% of the company's stock.

APi Group Trading Down 2.5%

Shares of APG opened at $41.19 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm's 50-day moving average is $43.67 and its two-hundred day moving average is $41.66. APi Group Corporation has a twelve month low of $30.00 and a twelve month high of $49.99. The firm has a market capitalization of $17.85 billion, a P/E ratio of -58.02, a PEG ratio of 2.48 and a beta of 1.67.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. On average, research analysts predict that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APG. Royal Bank Of Canada upped their target price on shares of APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, February 26th. Robert W. Baird set a $52.00 target price on shares of APi Group in a report on Friday, May 1st. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Barclays reaffirmed an "overweight" rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, UBS Group increased their price target on shares of APi Group from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.14.

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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