JNBA Financial Advisors Lowers Holdings in APi Group Corporation $APG

Key Points

• JNBA Financial Advisors reduced its APi Group stake by 11.0%, selling 52,106 shares to hold 419,794 shares worth about $16.06 million, making APG its 16th-largest holding.
• Large insider sales occurred recently: Director Martin E. Franklin sold 3,000,000 shares for roughly $122.6 million, and insiders sold a total of 3,682,000 shares (~$152.3 million) in the last 90 days, though insiders still own about 17% of the company.
• Several analysts raised targets (Truist to $53, Barclays $52, UBS $54, Citi $52), leaving a consensus rating of "Moderate Buy" with a $48.57 price target; APG also beat Q4 EPS estimates ($0.44 vs. $0.40) with revenue up 13.8% year-over-year.

JNBA Financial Advisors lowered its position in APi Group Corporation (NYSE:APG - Free Report) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419,794 shares of the company's stock after selling 52,106 shares during the quarter. APi Group makes up about 1.4% of JNBA Financial Advisors' holdings, making the stock its 16th biggest holding. JNBA Financial Advisors owned about 0.10% of APi Group worth $16,061,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners lifted its stake 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 acquiring an additional 286 shares during the last quarter. Parallel Advisors LLC lifted its stake in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after acquiring an additional 297 shares during the last quarter. Wedmont Private Capital lifted its stake in APi Group by 4.7% in the fourth quarter. Wedmont Private Capital now owns 7,655 shares of the company's stock worth $314,000 after acquiring an additional 343 shares during the last quarter. Whittier Trust Co. lifted its stake in APi Group by 49.9% in the third quarter. Whittier Trust Co. now owns 1,117 shares of the company's stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in APi Group by 50.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company's stock worth $44,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 83,629 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the completion of the sale, the director owned 9,522,350 shares in the company, valued at $408,889,709. This represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin E. Franklin sold 3,000,000 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the sale, the director owned 21,240,426 shares of the company's stock, valued at approximately $868,308,614.88. This trade represents a 12.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,682,000 shares of company stock worth $152,333,385 in the last 90 days. 17.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APG. Truist Financial lifted their price target on shares of APi Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Weiss Ratings restated a "hold (c+)" rating on shares of APi Group in a report on Monday, December 22nd. Barclays upped their target price on shares of APi Group from $44.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. UBS Group upped their target price on shares of APi Group from $49.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Finally, Citigroup upped their target price on shares of APi Group from $49.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, February 26th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.57.

APi Group Stock Performance

Shares of APi Group stock opened at $44.43 on Friday. The firm's fifty day simple moving average is $42.94 and its 200-day simple moving average is $39.91. APi Group Corporation has a 12 month low of $22.16 and a 12 month high of $46.89. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of -58.72, a PEG ratio of 2.68 and a beta of 1.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. APi Group's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current 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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