Insider Selling: APi Group Co. (NYSE:APG) Director Sells 150,000 Shares of Stock

APi Group Co. (NYSE:APG) Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the transaction, the director now owns 5,828,779 shares in the company, valued at $216,888,866.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

APi Group Price Performance

Shares of NYSE:APG opened at $37.57 on Friday. The business has a fifty day simple moving average of $38.31 and a 200-day simple moving average of $33.83. APi Group Co. has a 52 week low of $21.96 and a 52 week high of $39.98. The company has a market cap of $10.31 billion, a P/E ratio of -17.47, a P/E/G ratio of 1.09 and a beta of 1.62. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 1.14.

APi Group (NYSE:APG) last released its earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. APi Group had a net margin of 2.49% and a return on equity of 37.83%. APi Group’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities research analysts forecast that APi Group Co. will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in APG. Raymond James & Associates increased its stake in APi Group by 21.5% during the third quarter. Raymond James & Associates now owns 62,627 shares of the company’s stock worth $1,624,000 after acquiring an additional 11,096 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in APi Group by 35.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,096 shares of the company’s stock worth $988,000 after purchasing an additional 10,035 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in APi Group by 28.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,100 shares of the company’s stock valued at $703,000 after buying an additional 5,945 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in APi Group by 9.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,626 shares of the company’s stock worth $2,557,000 after buying an additional 8,816 shares during the period. Finally, Jennison Associates LLC increased its position in shares of APi Group by 65.7% in the third quarter. Jennison Associates LLC now owns 39,540 shares of the company’s stock worth $1,025,000 after acquiring an additional 15,677 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. Jefferies Financial Group started coverage on APi Group in a report on Friday, March 15th. They set a “buy” rating and a $48.00 price objective on the stock. Robert W. Baird boosted their target price on shares of APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on APi Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, Citigroup boosted their price target on APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.