Northwestern Mutual Wealth Management Co. Purchases 403,842 Shares of APi Group Corporation $APG

Northwestern Mutual Wealth Management Co. boosted its position in APi Group Corporation (NYSE:APG) by 5,212.2% in the fourth quarter, HoldingsChannel reports. The firm owned 411,590 shares of the company’s stock after buying an additional 403,842 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in APi Group were worth $15,747,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in APG. Allianz Asset Management GmbH grew its position in shares of APi Group by 47.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after acquiring an additional 108,433 shares during the period. Bessemer Group Inc. grew its position in shares of APi Group by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after acquiring an additional 2,077,705 shares during the period. Envestnet Asset Management Inc. grew its position in shares of APi Group by 48.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock valued at $23,172,000 after acquiring an additional 220,551 shares during the period. Truist Financial Corp grew its position in shares of APi Group by 29.5% during the 3rd quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after acquiring an additional 43,202 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares during the period. 86.62% of the stock is owned by institutional investors.

APi Group Stock Performance

NYSE APG opened at $42.09 on Thursday. The company’s 50 day simple moving average is $43.67 and its two-hundred day simple moving average is $41.71. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a 1 year low of $30.00 and a 1 year high of $49.99. The stock has a market capitalization of $18.24 billion, a PE ratio of -59.28, a P/E/G ratio of 2.42 and a beta of 1.67.

APi Group (NYSE:APG) last announced 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 the consensus estimate of $1.92 billion. During the same period last year, the firm earned $0.37 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Analysts predict that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 1,018,466 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director directly owned 9,542,818 shares of the company’s stock, valued at $426,850,249.14. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the completion of the transaction, the director directly owned 9,296,811 shares of the company’s stock, valued at approximately $417,147,909.57. The trade was a 2.37% 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. Insiders sold a total of 5,126,000 shares of company stock valued at $217,071,030 in the last three months. Company insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APG shares. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. Barclays reissued an “overweight” rating and set a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. UBS Group increased their target price on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Robert W. Baird set a $52.00 target price on shares of APi Group in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.