Newbridge Financial Services Group Inc. Increases Stock Holdings in APi Group Corporation $APG

Key Points

• Newbridge Financial Services Group Inc. boosted its stake in APi Group by 75.4% in Q4, owning 68,108 shares after buying an additional 29,270 shares, worth about $2.606 million.
• Significant insider selling has occurred recently: Director Martin E. Franklin sold 3,000,000 shares for roughly $122.64 million, and insiders have sold a total of 3,682,000 shares (~$152.33 million) over the last 90 days, though insiders still own about 17% of the company.
• Analysts are broadly positive — several firms raised price targets into the $52–$54 range, the consensus is a "Moderate Buy" with an average target of $48.57, after APi reported an EPS of $0.44 and revenue growth of 13.8% year-over-year.

Newbridge Financial Services Group Inc. increased its holdings in shares of APi Group Corporation (NYSE:APG - Free Report) by 75.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,108 shares of the company's stock after buying an additional 29,270 shares during the quarter. Newbridge Financial Services Group Inc.'s holdings in APi Group were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APG. Bares Capital Management Inc. acquired a new position in shares of APi Group in the 2nd quarter valued at about $30,000. Sound Income Strategies LLC acquired a new position in shares of APi Group during the fourth quarter valued at approximately $27,000. Clearstead Advisors LLC raised its holdings in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company's stock valued at $29,000 after acquiring an additional 427 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its holdings in shares of APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock valued at $29,000 after acquiring an additional 286 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Stock Up 0.4%

APi Group stock opened at $42.20 on Tuesday. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $46.89. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43. The stock has a market cap of $18.21 billion, a PE ratio of -55.77, a P/E/G ratio of 2.51 and a beta of 1.68. The stock's fifty day moving average is $42.60 and its two-hundred day moving average is $39.43.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on APG. Barclays increased their target price on APi Group from $44.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Truist Financial increased their price objective on APi Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. CJS Securities upgraded APi Group to a "strong-buy" rating in a research report on Thursday, December 11th. Finally, UBS Group raised their price target on APi Group from $49.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, APi Group has an average rating of "Moderate Buy" and an average target price of $48.57.

Insider Buying and Selling at APi Group

In other news, Director Ian G. H. Ashken sold 72,546 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,115,125.24. Following the completion of the sale, the director directly owned 10,561,284 shares of the company's stock, valued at approximately $453,501,534.96. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the sale, the director owned 21,240,426 shares of the company's stock, valued at $868,308,614.88. This trade represents a 12.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,682,000 shares of company stock worth $152,333,385 over the last ninety days. Corporate insiders own 17.00% of the company's stock.

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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