BNP Paribas Financial Markets Acquires 155,411 Shares of APi Group Corporation $APG

BNP Paribas Financial Markets grew its holdings in shares of APi Group Corporation (NYSE:APG) by 32.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 638,778 shares of the company’s stock after acquiring an additional 155,411 shares during the period. BNP Paribas Financial Markets’ holdings in APi Group were worth $24,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System lifted its stake in shares of APi Group by 0.3% during the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock valued at $3,772,000 after buying an additional 277 shares in the last quarter. Silicon Valley Capital Partners lifted its stake in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of APi Group by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company’s stock valued at $3,169,000 after buying an additional 314 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of APi Group by 4.7% during the 4th quarter. Wedmont Private Capital now owns 7,655 shares of the company’s stock valued at $314,000 after buying an additional 343 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of NYSE:APG opened at $42.06 on Friday. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of -59.23, a PEG ratio of 2.49 and a beta of 1.60. APi Group Corporation has a 12 month low of $31.40 and a 12 month high of $49.99. The firm’s 50-day moving average is $43.78 and its 200 day moving average is $42.09. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

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

Analyst Ratings Changes

APG has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research note on Tuesday, May 26th. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Finally, Citigroup reiterated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.14.

Insiders Place Their Bets

In other APi Group news, Director James E. Lillie sold 225,539 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total value of $10,119,934.93. Following the transaction, the director directly owned 9,296,811 shares in the company, valued at $417,147,909.57. This represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares in the company, valued at $426,850,249.14. This represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,444,000 shares of company stock worth $187,377,645 in the last three months. Corporate 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.