Focus Financial Network Inc. Has $2.33 Million Holdings in APi Group Corporation $APG

Focus Financial Network Inc. lifted its stake in APi Group Corporation (NYSE:APG) by 50.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 67,807 shares of the company’s stock after acquiring an additional 22,626 shares during the period. Focus Financial Network Inc.’s holdings in APi Group were worth $2,331,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of APG. Durable Capital Partners LP lifted its position in APi Group by 78.0% in the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company’s stock worth $318,663,000 after purchasing an additional 3,903,632 shares during the period. State Street Corp raised its stake in shares of APi Group by 83.2% in the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after buying an additional 3,247,126 shares in the last quarter. Norges Bank acquired a new position in shares of APi Group in the 2nd quarter valued at $154,149,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of APi Group by 114.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,802,773 shares of the company’s stock worth $100,227,000 after acquiring an additional 1,495,268 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of APi Group during the 3rd quarter valued at about $45,203,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Trading Up 1.1%

APG stock opened at $38.88 on Friday. The business has a fifty day moving average price of $37.08 and a 200 day moving average price of $35.38. 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 fifty-two week low of $20.50 and a fifty-two week high of $40.58. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 106.04 and a beta of 1.72.

APi Group (NYSE:APG) last announced its earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts expect that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the sale, the director owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 900,000 shares of company stock worth $32,342,000. 17.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APG. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays increased their target price on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Zacks Research lowered APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of APi Group in a research note on Monday, December 8th. Finally, Citigroup reissued a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of APi Group in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average price target of $38.81.

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.