Northwestern Mutual Wealth Management Co. Has $15.75 Million Stock Position in APi Group Corporation $APG

Key Points

• Northwestern Mutual Wealth Management sharply increased its APi Group stake in the fourth quarter, boosting holdings by 5,212.2% to 411,590 shares worth about $15.75 million.
• APi Group reported better-than-expected first-quarter results, posting EPS of $0.32 versus estimates of $0.30 and revenue of $1.98 billion, up 15.3% year over year.
• Despite the strong earnings and upbeat analyst coverage, insider selling has been significant, with directors Ian G. H. Ashken and James E. Lillie both selling shares under pre-arranged trading plans.

Northwestern Mutual Wealth Management Co. grew its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 5,212.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 411,590 shares of the company's stock after purchasing an additional 403,842 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.10% of APi Group worth $15,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in APG. Sound Income Strategies LLC acquired a new position in shares of APi Group during the fourth quarter valued at about $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 purchasing an additional 427 shares during the period. 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 purchasing an additional 286 shares during the period. 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 purchasing an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in shares of APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company's stock valued at $31,000 after purchasing an additional 736 shares during the period. Institutional investors and hedge funds own 86.62% of the company's stock.

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 65,534 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the sale, the director directly owned 9,477,284 shares of the company's stock, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 15,648 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total transaction of $711,984.00. Following the completion of the sale, the director directly owned 1,275,019 shares of the company's stock, valued at $58,013,364.50. The trade was a 1.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,126,000 shares of company stock valued at $217,071,030. Corporate insiders own 18.70% of the company's stock.

APi Group Trading Up 2.3%

APG opened at $42.09 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a fifty-two week low of $30.00 and a fifty-two week high of $49.99. The firm has a market capitalization of $18.24 billion, a PE ratio of -59.28, a P/E/G ratio of 2.42 and a beta of 1.67. The company's 50-day moving average is $43.67 and its 200 day moving average is $41.71.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on APG. UBS Group upped their price objective on shares of APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a report on Friday, May 1st. Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a "buy" rating in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, February 26th. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, 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. One 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.14.

APi Group 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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