Insider Selling: APi Group (NYSE:APG) Director Sells $3,115,125.24 in Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 72,546 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,115,125.24. Following the completion of the sale, the director directly owned 10,561,284 shares of the company’s stock, valued at $453,501,534.96. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

APi Group Stock Performance

Shares of APi Group stock opened at $41.81 on Friday. The firm’s fifty day simple moving average is $42.60 and its 200-day simple moving average is $38.52. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of -55.26, a PEG ratio of 2.51 and a beta of 1.69. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $46.89. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43.

APi Group (NYSE:APG) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. APi Group had a net margin of 3.70% and a return on equity of 37.92%. APi Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, equities analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APG. Barclays raised their target price on APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. CJS Securities raised APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Truist Financial boosted their price objective on shares of APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada increased their price objective on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

Institutional Investors Weigh In On APi Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 11,644,990 shares during the period. Norges Bank acquired a new stake in shares of APi Group during the fourth quarter worth $181,066,000. Durable Capital Partners LP grew its position in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the period. State Street Corp boosted its position in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after acquiring an additional 3,620,931 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of APi Group by 224.6% during 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 last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

About APi Group

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.