Azzad Asset Management Inc. ADV Takes Position in APi Group Corporation $APG

Azzad Asset Management Inc. ADV purchased a new position in APi Group Corporation (NYSE:APG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 41,325 shares of the company’s stock, valued at approximately $1,674,000.

A number of other hedge funds also recently bought and sold shares of APG. Root Financial Partners LLC increased its stake in APi Group by 20.3% during the 1st quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock valued at $51,000 after purchasing an additional 212 shares in the last quarter. Arizona State Retirement System raised its holdings 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 buying an additional 277 shares during the last quarter. Triad Wealth Partners LLC lifted its stake in shares of APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock worth $415,000 after buying an additional 283 shares in the last quarter. Silicon Valley Capital Partners grew its holdings in shares of APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 59,461 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the sale, the director directly owned 9,237,350 shares of the company’s stock, valued at approximately $420,299,425. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 65,534 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the sale, the director directly owned 9,477,284 shares of the company’s stock, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. 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. UBS Group increased their target price on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Robert W. Baird set a $52.00 target price on APi Group in a report on Friday, May 1st. Barclays restated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

APi Group Trading Down 0.6%

Shares of NYSE:APG opened at $41.39 on Friday. The stock has a market capitalization of $17.93 billion, a price-to-earnings ratio of -58.29, a PEG ratio of 2.44 and a beta of 1.60. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44. The stock’s 50-day simple moving average is $42.41 and its two-hundred day simple moving average is $42.68. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99.

APi Group (NYSE:APG) last released 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. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts expect that APi Group Corporation will post 1.71 EPS for the current year.

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.