Insider Selling: APi Group (NYSE:APG) Director Sells 85,072 Shares of Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 85,072 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the completion of the transaction, the director owned 9,177,284 shares in the company, valued at $370,395,182.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Trading Up 0.7%

APG traded up $0.29 during midday trading on Wednesday, reaching $41.83. 2,136,496 shares of the company’s stock traded hands, compared to its average volume of 2,886,400. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of -62.43, a P/E/G ratio of 2.32 and a beta of 1.60. The firm has a fifty day moving average of $41.26 and a two-hundred day moving average of $42.68. APi Group Corporation has a 52 week low of $33.40 and a 52 week high of $49.99.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APi Group

Several institutional investors have recently made changes to their positions in APG. Root Financial Partners LLC boosted its holdings in shares of APi Group by 20.3% in the first quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock worth $51,000 after buying an additional 212 shares during the last quarter. Arista Wealth Management LLC raised its holdings in APi Group by 1.4% in the 2nd quarter. Arista Wealth Management LLC now owns 19,125 shares of the company’s stock worth $810,000 after purchasing an additional 270 shares during the period. Arizona State Retirement System lifted its position in APi Group by 0.3% during the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock valued at $3,772,000 after purchasing an additional 277 shares in the last quarter. Triad Wealth Partners LLC lifted its position in APi Group by 2.8% during the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock valued at $415,000 after purchasing an additional 283 shares in the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in 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. Institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Wells Fargo & Company started coverage on shares of APi Group in a report on Tuesday. They set an “overweight” rating and a $53.00 price objective for the company. Wall Street Zen downgraded shares of APi Group from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup reaffirmed a “buy” rating and issued a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Finally, UBS Group set a $52.00 target price on shares of APi Group in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and a consensus price target of $52.57.

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.