Allspring Global Investments Holdings LLC Cuts Position in APi Group Corporation $APG

Allspring Global Investments Holdings LLC reduced its stake in shares of APi Group Corporation (NYSE:APG) by 23.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,698,161 shares of the company’s stock after selling 1,133,058 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.85% of APi Group worth $153,585,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC acquired a new stake in shares of APi Group in the 4th quarter worth $27,000. Silicon Valley Capital Partners grew its stake 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 worth $29,000 after acquiring an additional 286 shares during the last quarter. Parallel Advisors LLC increased 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 acquiring an additional 297 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after purchasing an additional 736 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Price Performance

Shares of NYSE APG opened at $40.80 on Friday. 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 firm has a fifty day moving average of $42.05 and a 200 day moving average of $42.76. The firm has a market cap of $17.67 billion, a PE ratio of -57.46, a PEG ratio of 2.41 and a beta of 1.60. APi Group Corporation has a one year low of $33.40 and a one 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, beating the consensus estimate of $0.30 by $0.02. The business 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 company’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, research analysts predict that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. Truist Financial set a $55.00 target price on APi Group and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. UBS Group lifted their price target on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Barclays reiterated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and an average price target of $53.83.

Insider Transactions at APi Group

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Lillie sold 59,461 shares of the firm’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 value of $2,705,475.50. Following the completion of the transaction, the director owned 9,237,350 shares in the company, valued at approximately $420,299,425. This trade represents a 0.64% decrease in their position. 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. Insiders have sold a total of 3,451,000 shares of company stock valued at $149,194,935 in the last 90 days. 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.