Congress Asset Management Co. Buys New Stake in APi Group Corporation $APG

Congress Asset Management Co. purchased a new stake in APi Group Corporation (NYSE:APG) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,298,095 shares of the company’s stock, valued at approximately $49,665,000. Congress Asset Management Co. owned about 0.31% of APi Group as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH boosted its stake in APi Group by 47.4% during the third quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after buying an additional 108,433 shares during the last quarter. Bessemer Group Inc. increased its stake in APi Group by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after acquiring an additional 2,077,705 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in APi Group by 48.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock worth $23,172,000 after acquiring an additional 220,551 shares during the last quarter. Truist Financial Corp raised its holdings in shares of APi Group by 29.5% during the 3rd quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock worth $6,523,000 after acquiring an additional 43,202 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in shares of APi Group by 59.6% during the 3rd quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock worth $3,874,000 after acquiring an additional 42,111 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 26th. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Citigroup increased their price objective on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Barclays lifted their price objective on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Truist Financial upped their target price on shares of APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 72,546 shares of the stock in a transaction dated 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 sale, the director directly owned 10,561,284 shares of the company’s stock, valued at $453,501,534.96. This represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Lillie sold 83,629 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total transaction of $3,591,029.26. Following the completion of the sale, the director directly owned 9,522,350 shares of the company’s stock, valued at approximately $408,889,709. The trade was a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,682,000 shares of company stock worth $152,333,385. 17.00% of the stock is currently owned by insiders.

APi Group Stock Performance

NYSE:APG opened at $41.49 on Tuesday. The stock’s fifty day moving average is $42.84 and its 200 day moving average is $39.00. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.89. The firm has a market capitalization of $17.90 billion, a PE ratio of -54.83, a PEG ratio of 2.36 and a beta of 1.69. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50.

APi Group (NYSE:APG) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. APi Group’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current year.

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.