Royal London Asset Management Ltd. Purchases 2,054,527 Shares of APi Group Corporation $APG

Royal London Asset Management Ltd. increased its stake in shares of APi Group Corporation (NYSE:APG) by 367.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,613,877 shares of the company’s stock after purchasing an additional 2,054,527 shares during the quarter. Royal London Asset Management Ltd.’s holdings in APi Group were worth $100,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of APG. Vanguard Group Inc. grew its position in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after acquiring an additional 11,644,990 shares during the last quarter. Norges Bank purchased a new stake in APi Group in the 4th quarter worth approximately $181,066,000. Durable Capital Partners LP lifted its holdings in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after buying an additional 4,274,610 shares during the period. State Street Corp lifted its holdings in APi Group by 50.6% in the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after buying an additional 3,620,931 shares during the period. Finally, Invesco Ltd. lifted its holdings in APi Group by 224.6% in the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after buying an additional 3,535,682 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Insider Transactions at APi Group

In related news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the sale, the director owned 9,296,811 shares of the company’s stock, valued at $417,147,909.57. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the sale, the director directly owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. The trade was a 12.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,444,000 shares of company stock worth $271,537,645 over the last quarter. 18.70% of the stock is currently owned by insiders.

APi Group Stock Down 0.7%

APG stock opened at $42.34 on Friday. APi Group Corporation has a 1-year low of $31.75 and a 1-year high of $49.99. The business has a fifty day moving average price of $43.99 and a 200-day moving average price of $42.28. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. The stock has a market capitalization of $18.34 billion, a P/E ratio of -59.64, a P/E/G ratio of 2.50 and a beta of 1.60.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Equities analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial set a $55.00 price objective on APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup restated a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Robert W. Baird set a $52.00 target price on APi Group in a research note 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 research note on Thursday, May 7th. One 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.14.

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.