Swedbank AB Has $42.91 Million Stock Position in APi Group Corporation $APG

Swedbank AB lowered its position in APi Group Corporation (NYSE:APG) by 19.2% during the 1st quarter, Holdings Channel reports. The fund owned 1,059,000 shares of the company’s stock after selling 251,000 shares during the period. Swedbank AB’s holdings in APi Group were worth $42,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APG. Whittier Trust Co. grew its stake in APi Group by 84.4% in the first quarter. Whittier Trust Co. now owns 2,060 shares of the company’s stock valued at $87,000 after acquiring an additional 943 shares during the period. Montrusco Bolton Investments Inc. raised its position in shares of APi Group by 50.5% during the first quarter. Montrusco Bolton Investments Inc. now owns 4,652,145 shares of the company’s stock worth $183,537,000 after purchasing an additional 1,561,990 shares during the period. Praxis Investment Management Inc. raised its position in shares of APi Group by 4.9% during the first quarter. Praxis Investment Management Inc. now owns 12,619 shares of the company’s stock worth $511,000 after purchasing an additional 589 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of APi Group by 128.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 18,662 shares of the company’s stock worth $756,000 after purchasing an additional 10,493 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of APi Group by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 8,446 shares of the company’s stock worth $342,000 after purchasing an additional 859 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

Insider Activity

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the transaction, the director owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 65,534 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the transaction, the director owned 9,477,284 shares in the company, valued at $431,121,649.16. The trade was a 0.69% decrease in their position. 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 90 days, insiders have sold 3,451,000 shares of company stock worth $149,194,935. Corporate insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial set a $55.00 price target on shares of APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup reiterated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. UBS Group boosted their target price 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. Finally, Barclays restated an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus target price of $52.14.

APi Group Stock Performance

Shares of APG stock opened at $41.51 on Thursday. The firm has a 50-day moving average of $42.70 and a 200-day moving average of $42.67. The company has a market cap of $17.98 billion, a P/E ratio of -58.46, a P/E/G ratio of 2.42 and a beta of 1.60. 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 one year low of $33.40 and a one year high of $49.99.

APi Group (NYSE:APG) 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. 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 period last year, the firm earned $0.37 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. Equities research analysts forecast that APi Group Corporation will post 1.71 EPS for the current fiscal year.

About APi Group

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.