The Manufacturers Life Insurance Company Lowers Holdings in APi Group Corporation $APG

The Manufacturers Life Insurance Company decreased its position in APi Group Corporation (NYSE:APG) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,329 shares of the company’s stock after selling 17,905 shares during the period. The Manufacturers Life Insurance Company’s holdings in APi Group were worth $10,508,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Rathbones Group PLC increased its position in shares of APi Group by 215.7% during the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock valued at $8,108,000 after acquiring an additional 144,789 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in APi Group by 75.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 68,108 shares of the company’s stock valued at $2,606,000 after acquiring an additional 29,270 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in APi Group in the 4th quarter valued at approximately $5,593,000. Hantz Financial Services Inc. boosted its stake in APi Group by 628.7% during the 4th quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company’s stock valued at $6,658,000 after purchasing an additional 150,139 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in APi Group by 5,212.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company’s stock valued at $15,747,000 after purchasing an additional 403,842 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Price Performance

NYSE APG opened at $39.90 on Tuesday. The business’s fifty day moving average price is $41.28 and its 200-day moving average price is $42.68. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of -59.54, a PEG ratio of 2.32 and a beta of 1.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. APi Group Corporation has a 1-year low of $33.40 and a 1-year high of $49.99.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $0.39 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts predict that APi Group Corporation will post 1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APG. Citigroup restated a “buy” rating and issued a $54.00 price target (up from $53.00) on shares of APi Group in a research note on Friday. Robert W. Baird set a $47.00 price objective on APi Group in a report on Friday. Truist Financial set a $55.00 target price on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Barclays restated an “overweight” rating and set a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of APi Group from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Insider Activity

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the sale, the director directly owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. The trade was a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.70% of the company’s stock.

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.