Bessemer Group Inc. Reduces Stock Holdings in APi Group Corporation $APG

Bessemer Group Inc. reduced its holdings in shares of APi Group Corporation (NYSE:APG) by 8.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,581,197 shares of the company’s stock after selling 412,471 shares during the quarter. Bessemer Group Inc.’s holdings in APi Group were worth $185,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Asset Management Co. acquired a new position in shares of APi Group during the fourth quarter valued at about $49,665,000. Rathbones Group PLC boosted its stake in APi Group by 215.7% in the 4th quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock worth $8,108,000 after purchasing an additional 144,789 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in APi Group by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,831,219 shares of the company’s stock worth $188,273,000 after purchasing an additional 92,816 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in APi Group by 75.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 68,108 shares of the company’s stock worth $2,606,000 after purchasing an additional 29,270 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its position in APi Group by 50.0% during the 3rd quarter. New Mexico Educational Retirement Board now owns 74,850 shares of the company’s stock worth $2,573,000 after purchasing an additional 24,950 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APG has been the topic of a number of recent analyst reports. 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. Barclays reiterated an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

APi Group Stock Performance

APG opened at $40.80 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The firm has a 50 day moving average of $42.05 and a two-hundred day moving average of $42.76. The firm has a market capitalization of $17.67 billion, a PE ratio of -57.46, a P/E/G ratio of 2.41 and a beta of 1.60.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. On average, analysts anticipate that APi Group Corporation will post 1.71 EPS for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 225,539 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the sale, the director directly owned 9,296,811 shares of the company’s stock, valued at approximately $417,147,909.57. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. Company insiders own 18.70% of the company’s stock.

APi Group 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.