Insider Selling: APi Group (NYSE:APG) Director Sells $5,006,763.05 in Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 113,045 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $44.29, for a total transaction of $5,006,763.05. Following the transaction, the director directly owned 10,748,239 shares in the company, valued at $476,039,505.31. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

APi Group Trading Down 0.7%

NYSE:APG opened at $41.81 on Friday. The firm has a 50-day simple moving average of $42.60 and a 200-day simple moving average of $38.52. APi Group Corporation has a one year low of $20.50 and a one year high of $46.89. The firm has a market cap of $18.04 billion, a P/E ratio of -55.26, a P/E/G ratio of 2.51 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 released its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $2.12 billion for 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%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. Equities analysts anticipate that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial lifted their price target on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Royal Bank Of Canada lifted their target price on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, UBS Group increased their price target on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

Institutional Trading of APi Group

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of APi Group in the first quarter worth $650,000. Goldman Sachs Group Inc. increased its position in shares of APi Group by 73.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after acquiring an additional 75,490 shares during the period. Atria Investments Inc raised its stake in APi Group by 7.9% in the 2nd quarter. Atria Investments Inc now owns 7,642 shares of the company’s stock worth $390,000 after acquiring an additional 557 shares during the last quarter. Versor Investments LP acquired a new stake in APi Group during the 2nd quarter worth about $475,000. Finally, State of Michigan Retirement System acquired a new stake in APi Group during the 2nd quarter worth about $2,946,000. 86.62% of the stock is currently 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.