KBC Group NV Raises Stock Holdings in APi Group Corporation $APG

Key Points

• KBC Group NV increased its APi Group stake by 1,305.8% in Q1, adding 131,855 shares and bringing its total holding to 141,953 shares valued at about $5.75 million.
• APi Group reported better-than-expected quarterly results, with EPS of $0.32 versus the $0.30 estimate and revenue of $1.98 billion, up 15.3% year over year.
• Analysts remain broadly constructive, with a consensus Moderate Buy rating and average price target of $53.17, even as some insiders have recently sold shares, including a large sale by Director Martin E. Franklin.

KBC Group NV raised its holdings in shares of APi Group Corporation (NYSE:APG - Free Report) by 1,305.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,953 shares of the company's stock after purchasing an additional 131,855 shares during the quarter. KBC Group NV's holdings in APi Group were worth $5,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of APG. AQR Capital Management LLC bought a new stake in shares of APi Group in the first quarter worth $650,000. Goldman Sachs Group Inc. boosted its stake in APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company's stock valued at $6,369,000 after acquiring an additional 75,490 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in APi Group by 547.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company's stock valued at $65,000 after acquiring an additional 1,078 shares during the last quarter. First Trust Advisors LP grew its holdings in APi Group by 166.5% during the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company's stock worth $8,861,000 after acquiring an additional 108,447 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in APi Group by 5.7% during the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company's stock worth $577,000 after acquiring an additional 612 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Stock Performance

APG opened at $39.59 on Friday. The business's 50 day moving average is $41.63 and its 200-day moving average is $42.78. 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 stock has a market cap of $17.15 billion, a PE ratio of -55.75, a price-to-earnings-growth ratio of 2.28 and a beta of 1.60. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, analysts predict that APi Group Corporation will post 1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

APG has been the topic of several research reports. Weiss Ratings cut APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. Barclays reiterated an "overweight" rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a "buy" rating in a report on Friday, May 1st. Citigroup reissued a "buy" rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Finally, Robert W. Baird set a $52.00 price target on shares of APi Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.17.

Insider Transactions at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the completion of the transaction, the director directly owned 9,477,284 shares of the company's stock, valued at approximately $431,121,649.16. This trade represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the transaction, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is currently owned by company insiders.

About APi Group

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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