Artisan Partners Limited Partnership Cuts Stake in APi Group Corporation $APG

Artisan Partners Limited Partnership reduced its stake in shares of APi Group Corporation (NYSE:APG) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,637,578 shares of the company’s stock after selling 655,408 shares during the quarter. Artisan Partners Limited Partnership’s holdings in APi Group were worth $253,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in APG. AQR Capital Management LLC purchased a new stake in APi Group during the 1st quarter valued at approximately $650,000. Goldman Sachs Group Inc. grew its holdings in APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after buying an additional 75,490 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in APi Group by 547.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after buying an additional 1,078 shares in the last quarter. First Trust Advisors LP grew its holdings in APi Group by 166.5% during the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after buying an additional 108,447 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in APi Group by 5.7% during the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after buying an additional 612 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APG shares. Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. Citigroup restated a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Barclays restated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Royal Bank Of Canada raised their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Finally, UBS Group raised their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a report 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 company’s stock. According to MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average target price of $52.14.

APi Group Stock Performance

NYSE APG opened at $42.48 on Wednesday. The stock has a market capitalization of $18.40 billion, a PE ratio of -59.83, a P/E/G ratio of 2.44 and a beta of 1.60. The business has a 50 day simple moving average of $43.99 and a two-hundred day simple moving average of $42.35. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a 1-year low of $31.95 and a 1-year high of $49.99.

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

Insider Transactions at APi Group

In other news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the transaction, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. The trade was a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 APi Group stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. This trade represents a 9.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,444,000 shares of company stock worth $271,537,645. 18.70% of the stock is currently owned by company insiders.

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.