APi Group (NYSE:APG) Director Ian Ashken Sells 85,072 Shares of Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 85,072 shares of APi Group stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total value 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. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Trading Up 0.7%

Shares of NYSE APG opened at $41.83 on Thursday. 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 P/E ratio of -62.43, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60. APi Group Corporation has a 1-year low of $33.40 and a 1-year high of $49.99. The business has a fifty day moving average price of $41.27 and a 200 day moving average price of $42.67.

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

Wall Street Analyst Weigh In

Several research firms recently commented on APG. UBS Group set a $52.00 price objective on shares of APi Group in a research note on Monday, July 20th. Barclays restated an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Truist Financial set a $55.00 price target on shares of APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Wells Fargo & Company began coverage on APi Group in a research report on Tuesday. They set an “overweight” rating and a $53.00 price target on the stock. Finally, Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of APG. AQR Capital Management LLC purchased a new position in APi Group during the 1st quarter worth approximately $650,000. Goldman Sachs Group Inc. lifted its position in APi Group by 73.6% during the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after purchasing an additional 75,490 shares during the period. EverSource Wealth Advisors LLC lifted its position in APi Group by 547.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP boosted its holdings in APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after purchasing an additional 108,447 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of APi Group by 5.7% during the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after buying an additional 612 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group News Roundup

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

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.