APi Group (NYSE:APG) Director Ian Ashken Sells 214,928 Shares of Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 214,928 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the transaction, the director directly owned 9,262,356 shares in the company, valued at approximately $369,660,627.96. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Stock Up 0.7%

Shares of NYSE APG opened at $41.83 on Thursday. The firm has a fifty day simple moving average of $41.27 and a two-hundred day simple moving average of $42.67. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $18.08 billion, a PE ratio of -62.43, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60.

APi Group (NYSE:APG) last announced its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share 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 firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that APi Group Corporation will post 1.72 earnings per share for the current year.

Institutional Investors Weigh In On APi Group

A number of institutional investors have recently made changes to their positions in APG. Root Financial Partners LLC grew its holdings in APi Group by 20.3% during the 1st quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock valued at $51,000 after buying an additional 212 shares in the last quarter. Arista Wealth Management LLC raised its holdings in shares of APi Group by 1.4% during the 2nd quarter. Arista Wealth Management LLC now owns 19,125 shares of the company’s stock worth $810,000 after acquiring an additional 270 shares in the last quarter. Arizona State Retirement System boosted its position in shares of APi Group by 0.3% during the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock valued at $3,772,000 after acquiring an additional 277 shares during the last quarter. Triad Wealth Partners LLC boosted its position in shares of APi Group by 2.8% during the 1st quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock valued at $415,000 after acquiring an additional 283 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its holdings 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 purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

More APi Group News

Here are the key news stories impacting APi Group this week:

• Positive Sentiment: Wells Fargo initiated coverage of APi Group with an “overweight” rating and a $53 price target, implying approximately 26.7% upside from the referenced $41.83 level. The new coverage adds a bullish Wall Street view and may help investor confidence. API Group rated overweight in new research coverage at Wells Fargo
• Positive Sentiment: J.P. Morgan reaffirmed its buy rating on APi Group, reinforcing the view that the company’s shares remain attractive. J.P. Morgan Reaffirms Their Buy Rating on APi Group
• Neutral Sentiment: Director Ian G. H. Ashken sold a combined 300,000 shares for approximately $12.0 million, while retaining more than 9.17 million shares. Both sales were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their usefulness as a signal of a discretionary bearish outlook. SEC insider transaction filing
• Negative Sentiment: Director James E. Lillie sold a combined 360,000 shares worth approximately $14.3 million. Although the transactions were also executed under a 10b5-1 plan, the sizable sales could create short-term supply and raise investor concerns about insider conviction. Lillie continues to hold substantial APi Group stock. SEC insider transaction filing

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group set a $52.00 target price on APi Group in a report on Monday, July 20th. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a research note on Friday, May 1st. Robert W. Baird set a $47.00 price objective on APi Group in a report on Friday, July 31st. Finally, Barclays reissued an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. One research 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. Based on data from MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.57.

APi Group Company 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.