Assenagon Asset Management S.A. Purchases 975,882 Shares of APi Group Corporation $APG

Assenagon Asset Management S.A. raised its position in shares of APi Group Corporation (NYSE:APG) by 145.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,647,576 shares of the company’s stock after purchasing an additional 975,882 shares during the period. Assenagon Asset Management S.A. owned approximately 0.38% of APi Group worth $66,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position 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 worth $3,772,000 after buying an additional 277 shares during the last quarter. Triad Wealth Partners LLC grew its position in APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock valued at $415,000 after acquiring an additional 283 shares during the last quarter. Silicon Valley Capital Partners grew its position in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 286 shares during the last quarter. Parallel Advisors LLC raised its stake in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after acquiring an additional 297 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in shares of APi Group by 0.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 103,073 shares of the company’s stock worth $3,944,000 after acquiring an additional 303 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors.

APi Group Stock Performance

Shares of APi Group stock opened at $41.70 on Friday. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of -58.73, a P/E/G ratio of 2.46 and a beta of 1.60. APi Group Corporation has a twelve month low of $32.70 and a twelve month high of $49.99. The company’s fifty day moving average is $43.76 and its 200 day moving average is $42.50. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Sell-side analysts forecast that APi Group Corporation will post 1.7 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed 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. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. UBS Group boosted their target price on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. 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. Based on data from MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus target price of $52.14.

Insider Buying and Selling

In other news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Lillie sold 59,461 shares of the company’s stock in a transaction 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 in the company, valued at approximately $420,299,425. This represents a 0.64% 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. Over the last three months, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. Insiders own 18.70% of the company’s stock.

APi Group Profile

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.