Martin Franklin Sells 2,000,000 Shares of APi Group (NYSE:APG) Stock

APi Group Corporation (NYSE:APG) Director Martin Franklin sold 2,000,000 shares of APi Group stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

APi Group Stock Down 0.7%

Shares of NYSE:APG opened at $42.34 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. APi Group Corporation has a 1 year low of $31.75 and a 1 year high of $49.99. The stock has a market capitalization of $18.34 billion, a P/E ratio of -59.64, a PEG ratio of 2.48 and a beta of 1.60. The stock has a 50-day simple moving average of $43.99 and a 200-day simple moving average of $42.28.

APi Group (NYSE:APG) last issued its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. Equities analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several research firms recently commented on APG. Citigroup reissued a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada upped their target price on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, UBS Group upped their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.14.

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.