WINTON GROUP Ltd Purchases New Shares in APi Group Corporation $APG

Key Points

• Institutional interest increased: WINTON GROUP acquired 27,400 APi Group shares valued at approximately $1.16 million, while other funds—including Squarepoint Ops and Corient Private Wealth—also expanded their positions. Institutional investors own 86.62% of the company.
• APi Group exceeded quarterly expectations: The company reported earnings of $0.44 per share versus the $0.43 consensus estimate and revenue of $2.25 billion, up 13.3% year over year.
• Analysts remain generally positive, but insiders have sold shares: APi Group carries a “Moderate Buy” consensus rating with an average $52.57 price target, while insiders sold 667,000 shares worth about $26.7 million during the latest quarter.

WINTON GROUP Ltd purchased a new position in APi Group Corporation (NYSE:APG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,400 shares of the company's stock, valued at approximately $1,160,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of APi Group by 4.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 32,457 shares of the company's stock worth $1,375,000 after acquiring an additional 1,444 shares during the last quarter. Squarepoint Ops LLC grew its holdings in APi Group by 125.4% during the 2nd quarter. Squarepoint Ops LLC now owns 967,869 shares of the company's stock valued at $40,989,000 after purchasing an additional 538,508 shares during the last quarter. Baird Financial Group Inc. raised its position in APi Group by 0.5% in the 2nd quarter. Baird Financial Group Inc. now owns 61,525 shares of the company's stock worth $2,606,000 after purchasing an additional 277 shares during the period. Nykredit A S purchased a new stake in APi Group in the 2nd quarter worth about $556,000. Finally, Corient Private Wealth LP lifted its stake in APi Group by 118.7% in the second quarter. Corient Private Wealth LP now owns 134,856 shares of the company's stock worth $5,711,000 after purchasing an additional 73,198 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 285,000 shares of APi Group stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.84, for a total transaction of $11,354,400.00. Following the completion of the sale, the director directly owned 8,952,350 shares in the company, valued at approximately $356,661,624. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Ian G. H. Ashken sold 85,072 shares of APi Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the sale, the director owned 9,177,284 shares of the company's stock, valued at $370,395,182.24. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 667,000 shares of company stock valued at $26,650,972. Insiders own 18.70% of the company's stock.

APi Group Price Performance

NYSE APG opened at $37.99 on Monday. The firm's fifty day simple moving average is $40.75 and its two-hundred day simple moving average is $42.25. The firm has a market capitalization of $16.42 billion, a P/E ratio of -56.71, a P/E/G ratio of 2.21 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $0.39 earnings per share. The company's quarterly revenue was up 13.3% on a year-over-year basis. Analysts forecast that APi Group Corporation will post 1.72 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup reiterated a "buy" rating and issued a $54.00 price target (up from $53.00) on shares of APi Group in a report on Friday, July 31st. UBS Group set a $52.00 price target on shares of APi Group in a report on Monday, July 20th. Wells Fargo & Company initiated coverage on shares of APi Group in a report on Tuesday, August 4th. They set an "overweight" rating and a $53.00 price objective for the company. Weiss Ratings restated a "hold (c-)" rating on shares of APi Group in a research note on Tuesday, September 8th. Finally, Wall Street Zen lowered APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $52.57.

About APi Group

APi Group Corporation NYSE: APG is a global provider of safety and specialty services for commercial, industrial, infrastructure and residential customers. Through a network of operating companies, it helps customers design, install, inspect, maintain and repair critical building and infrastructure systems.

The company's services include fire protection and life-safety systems, heating, ventilation and air conditioning, plumbing, electrical work, specialty contracting, industrial maintenance, infrastructure services, security systems, environmental services and emergency response.

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