APi Group Corporation $APG Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in APi Group Corporation (NYSE:APG) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 453,652 shares of the company’s stock after selling 42,287 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of APi Group worth $23,158,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of APG. Signaturefd LLC increased its holdings in APi Group by 6.7% in the 1st quarter. Signaturefd LLC now owns 4,067 shares of the company’s stock valued at $145,000 after purchasing an additional 256 shares during the last quarter. Amalgamated Bank lifted its stake in APi Group by 2.3% during the first quarter. Amalgamated Bank now owns 12,253 shares of the company’s stock worth $438,000 after purchasing an additional 279 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in APi Group by 5.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock valued at $194,000 after acquiring an additional 303 shares during the period. Cresset Asset Management LLC increased its stake in APi Group by 3.6% during the 1st quarter. Cresset Asset Management LLC now owns 10,693 shares of the company’s stock worth $382,000 after buying an additional 374 shares during the period. Finally, State of Wyoming raised its stake in shares of APi Group by 10.7% in the first quarter. State of Wyoming now owns 4,106 shares of the company’s stock valued at $147,000 after acquiring an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

APi Group stock opened at $35.39 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $37.04. The firm’s fifty day moving average price is $34.88 and its 200 day moving average price is $33.20. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of 96.51 and a beta of 1.64.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. APi Group has set its FY 2025 guidance at EPS. On average, research analysts forecast that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Activity at APi Group

In related news, Director Martin E. Franklin sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $34.64, for a total transaction of $41,568,000.00. Following the transaction, the director owned 19,868,790 shares in the company, valued at $688,254,885.60. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 205,550 shares of APi Group stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $35.24, for a total transaction of $7,243,582.00. Following the completion of the transaction, the director directly owned 7,968,167 shares in the company, valued at $280,798,205.08. This represents a 2.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,785,000 shares of company stock worth $62,091,327 over the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APG has been the subject of a number of recent analyst reports. Citigroup lifted their price target on APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Barclays lifted their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Research downgraded APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. raised APi Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $42.00 in a research note on Tuesday, July 15th. Finally, Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.52.

APi Group Profile

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.