Assenagon Asset Management S.A. Has $66.76 Million Stock Holdings in APi Group Corporation $APG

Assenagon Asset Management S.A. increased its holdings in shares of APi Group Corporation (NYSE:APG) by 145.3% in the 1st quarter, HoldingsChannel reports. The firm owned 1,647,576 shares of the company’s stock after acquiring an additional 975,882 shares during the period. Assenagon Asset Management S.A.’s holdings in APi Group were worth $66,760,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Congress Asset Management Co. acquired a new position in shares of APi Group during the 4th quarter valued at $49,665,000. TD Asset Management Inc increased its stake in APi Group by 40.0% in the third quarter. TD Asset Management Inc now owns 218,116 shares of the company’s stock valued at $7,497,000 after purchasing an additional 62,322 shares in the last quarter. Rathbones Group PLC raised its holdings in shares of APi Group by 215.7% during the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock valued at $8,108,000 after purchasing an additional 144,789 shares during the period. HighTower Advisors LLC raised its holdings in shares of APi Group by 197.8% during the third quarter. HighTower Advisors LLC now owns 47,472 shares of the company’s stock valued at $1,632,000 after purchasing an additional 31,532 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of APi Group by 44.5% during the third quarter. JPMorgan Chase & Co. now owns 1,386,049 shares of the company’s stock valued at $47,639,000 after purchasing an additional 426,642 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG opened at $41.70 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of -58.73, a PEG ratio of 2.46 and a beta of 1.60. The stock has a 50 day moving average of $43.76 and a 200 day moving average of $42.50. APi Group Corporation has a 12 month low of $32.70 and a 12 month 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 for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

APG has been the subject of several research reports. UBS Group raised their target price on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Robert W. Baird set a $52.00 price target on APi Group in a report on Friday, May 1st. Truist Financial set a $55.00 price objective on APi Group and gave the company a “buy” rating in a research note 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. Finally, Citigroup reissued a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.14.

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.