Louisiana State Employees Retirement System Invests $4.51 Million in APi Group Corporation $APG

Key Points

• Louisiana State Employees Retirement System initiated a new position in APi Group, buying 111,300 shares valued at about $4.51 million in the first quarter.
• APi Group saw notable insider selling, including Director Martin E. Franklin’s sale of 2 million shares for about $84.16 million, while insiders sold 3.45 million shares worth roughly $149.2 million over the last 90 days.
• The company reported better-than-expected first-quarter results, with EPS of $0.32 versus $0.30 expected and revenue of $1.98 billion topping estimates; analysts currently rate the stock Moderate Buy with an average price target of $52.14.

Louisiana State Employees Retirement System bought a new stake in APi Group Corporation (NYSE:APG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 111,300 shares of the company's stock, valued at approximately $4,510,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APG. Sound Income Strategies LLC purchased a new stake in APi Group during the 4th quarter valued at about $27,000. Clearstead Advisors LLC lifted its stake in APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company's stock worth $29,000 after purchasing an additional 427 shares in the last quarter. Silicon Valley Capital Partners boosted its holdings in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock worth $29,000 after purchasing an additional 286 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company's stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the sale, the director directly owned 19,240,426 shares of the company's stock, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony E. Malkin sold 7,000 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,451,000 shares of company stock worth $149,194,935. Company insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

APG has been the subject of several recent research reports. Barclays reaffirmed 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 target price on APi Group and gave the company a "buy" rating in a report on Friday, May 1st. Citigroup restated a "buy" rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.14.

APi Group Stock Down 1.4%

APG stock opened at $41.10 on Friday. APi Group Corporation has a one year low of $32.70 and a one year high of $49.99. The firm has a market cap of $17.81 billion, a PE ratio of -57.89, a PEG ratio of 2.45 and a beta of 1.60. The firm's 50 day moving average price is $43.68 and its 200-day moving average price is $42.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. On average, equities research analysts anticipate that APi Group Corporation will post 1.7 EPS 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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