SG Americas Securities LLC Has $7.17 Million Position in APi Group Corporation $APG

Key Points

• SG Americas Securities LLC increased its APi Group stake by 372.7% in the first quarter, ending with 176,834 shares valued at about $7.17 million.
• Wall Street sentiment on APi Group remains positive, with several analysts raising price targets and the stock carrying a Moderate Buy consensus and an average target price of $52.14.
• APi Group reported better-than-expected quarterly results, posting EPS of $0.32 versus $0.30 expected and revenue of $1.98 billion, while insiders also made notable share sales during the quarter.

SG Americas Securities LLC lifted its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 372.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,834 shares of the company's stock after purchasing an additional 139,421 shares during the period. SG Americas Securities LLC's holdings in APi Group were worth $7,165,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

APG has been the topic of a number of recent analyst reports. Robert W. Baird set a $52.00 target price on APi Group in a report on Friday, May 1st. UBS Group lifted their price objective on shares of APi Group from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Truist Financial set a $55.00 price objective on shares of APi Group and gave the company a "buy" rating in a research report on Friday, May 1st. Citigroup restated a "buy" rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.14.

APi Group Stock Performance

NYSE APG opened at $41.10 on Friday. The firm has a 50-day moving average price of $43.68 and a two-hundred day moving average price of $42.49. APi Group Corporation has a 12-month low of $32.70 and a 12-month high of $49.99. The company has a market capitalization of $17.81 billion, a P/E ratio of -57.89, a P/E/G ratio of 2.41 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79.

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

Insider Buying and Selling

In other APi Group news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the transaction, the director directly owned 9,296,811 shares of the company's stock, valued at $417,147,909.57. The trade was a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,451,000 shares of company stock worth $149,194,935 in the last quarter. Insiders own 18.70% of the company's stock.

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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