Newbridge Financial Services Group Inc. Takes $1.34 Million Position in APi Group Corporation $APG

Newbridge Financial Services Group Inc. bought a new position in shares of APi Group Corporation (NYSE:APG) during the third quarter, according to its most recent filing with the SEC. The fund bought 38,838 shares of the company’s stock, valued at approximately $1,335,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after buying an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP raised its position in APi Group by 19.2% in the second quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after acquiring an additional 1,712,397 shares during the period. Findlay Park Partners LLP boosted its stake in APi Group by 13.1% in the third quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock valued at $259,152,000 after acquiring an additional 873,420 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in APi Group by 49.5% in the third quarter. Artisan Partners Limited Partnership now owns 7,292,986 shares of the company’s stock valued at $250,660,000 after acquiring an additional 2,414,841 shares during the last quarter. Finally, State Street Corp grew its position in shares of APi Group by 83.2% during the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after acquiring an additional 3,247,126 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at APi Group

In related news, SVP Louis Lambert sold 22,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $44.71, for a total transaction of $983,620.00. Following the sale, the senior vice president owned 16,148 shares of the company’s stock, valued at approximately $721,977.08. This represents a 57.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 114,409 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total value of $4,933,316.08. Following the sale, the director directly owned 10,633,830 shares in the company, valued at $458,530,749.60. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 682,000 shares of company stock valued at $29,693,385 over the last three months. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APG. Royal Bank Of Canada raised their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. UBS Group upped their price objective on APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Truist Financial raised their target price on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Barclays boosted their target price on APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and an average target price of $48.57.

APi Group Stock Performance

Shares of APG stock opened at $39.89 on Friday. The firm’s 50 day moving average is $42.86 and its 200 day moving average is $38.72. The stock has a market capitalization of $17.21 billion, a P/E ratio of -52.72, a PEG ratio of 2.43 and a beta of 1.69. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $46.89. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81.

APi Group (NYSE:APG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $0.51 EPS. APi Group’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current year.

APi Group Company 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.