Sovereign s Capital Management LLC Sells 12,701 Shares of APi Group Corporation $APG

Sovereign s Capital Management LLC trimmed its holdings in APi Group Corporation (NYSE:APG) by 49.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,956 shares of the company’s stock after selling 12,701 shares during the period. Sovereign s Capital Management LLC’s holdings in APi Group were worth $496,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its position in APi Group by 0.3% in the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock worth $3,772,000 after acquiring an additional 277 shares in the last quarter. Silicon Valley Capital Partners grew its position in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares in the last quarter. Parallel Advisors LLC grew its position in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after acquiring an additional 297 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in APi Group by 0.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 103,073 shares of the company’s stock worth $3,944,000 after acquiring an additional 303 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its position in APi Group by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company’s stock worth $3,169,000 after acquiring an additional 314 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

APi Group Price Performance

NYSE APG opened at $42.48 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $43.99 and a 200 day simple moving average of $42.35. The company has a market cap of $18.40 billion, a P/E ratio of -59.83, a P/E/G ratio of 2.44 and a beta of 1.60. APi Group Corporation has a 1 year low of $31.95 and a 1 year high of $49.99.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm earned $0.37 EPS. APi Group’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that APi Group Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the sale, the director directly owned 9,477,284 shares of the company’s stock, valued at $431,121,649.16. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction on 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 completion of the sale, the director directly owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,444,000 shares of company stock valued at $271,537,645 in the last ninety days. Company insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

APG has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Barclays reaffirmed an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

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.