Natixis Advisors LLC Boosts Stock Position in APi Group Corporation $APG

Key Points

• Natixis Advisors LLC increased its APi Group stake by 14.5% in the fourth quarter, bringing its holdings to 477,739 shares valued at about $18.3 million.
• Insider selling was notable, with Director James E. Lillie selling 225,539 shares and Director Martin E. Franklin selling 3 million shares over the past few months; insiders sold 4.44 million shares total in the last 90 days.
• Analysts remain constructive on APG, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating with a $52.14 average target.

Natixis Advisors LLC lifted its holdings in shares of APi Group Corporation (NYSE:APG - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 477,739 shares of the company's stock after buying an additional 60,356 shares during the period. Natixis Advisors LLC owned about 0.11% of APi Group worth $18,279,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH grew its stake in shares of APi Group by 47.4% during the third quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company's stock valued at $11,586,000 after buying an additional 108,433 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of APi Group by 48.6% during the third quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company's stock valued at $23,172,000 after buying an additional 220,551 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of APi Group by 49.6% during 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. Principal Financial Group Inc. grew its stake in shares of APi Group by 49.4% during the third quarter. Principal Financial Group Inc. now owns 822,118 shares of the company's stock valued at $28,256,000 after buying an additional 271,950 shares during the last quarter. Finally, Congress Asset Management Co. bought a new position in shares of APi Group during the fourth quarter valued at about $49,665,000. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the completion of the transaction, the director directly owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction that occurred 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 transaction, the director owned 21,240,426 shares of the company's stock, valued at $868,308,614.88. The trade was a 12.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,444,000 shares of company stock worth $187,377,645. Insiders own 18.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on APG shares. UBS Group raised their price objective on APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Citigroup reaffirmed a "buy" rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Robert W. Baird set a $52.00 target price on APi Group in a research note on Friday, May 1st. Truist Financial set a $55.00 price target on APi Group and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their price target on APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.14.

APi Group Stock Performance

APi Group stock opened at $42.06 on Friday. The stock's 50 day simple moving average is $43.78 and its two-hundred day simple moving average is $42.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of -59.23, a PEG ratio of 2.49 and a beta of 1.60. APi Group Corporation has a fifty-two week low of $31.40 and a fifty-two week high of $49.99.

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