Newbridge Financial Services Group Inc. Increases Holdings in APi Group Corporation $APG

Newbridge Financial Services Group Inc. boosted its position in shares of APi Group Corporation (NYSE:APG – Free Report) by 75.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,108 shares of the company’s stock after purchasing an additional 29,270 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in APi Group were worth $2,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APG. AQR Capital Management LLC purchased a new stake in APi Group in the 1st quarter valued at approximately $650,000. Goldman Sachs Group Inc. increased its holdings in shares of 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. Arrowstreet Capital Limited Partnership acquired a new stake in shares of APi Group during the 2nd quarter worth $13,932,000. Invesco Ltd. increased its holdings in shares of APi Group by 39.9% during the 2nd quarter. Invesco Ltd. now owns 1,574,220 shares of the company’s stock worth $80,364,000 after buying an additional 449,007 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of APi Group by 547.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after buying an additional 1,078 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on APG shares. Truist Financial increased their price target on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada upped their price objective 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. Citigroup increased their price target on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. UBS Group increased their price target on shares of APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.57.

View Our Latest Analysis on APG

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 114,409 shares of APi Group stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the completion of the sale, the director owned 10,633,830 shares of the company’s stock, valued at $458,530,749.60. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the sale, the director directly owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. This trade represents a 12.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,682,000 shares of company stock worth $152,333,385. Corporate insiders own 17.00% of the company’s stock.

APi Group Price Performance

Shares of NYSE:APG opened at $42.20 on Tuesday. APi Group Corporation has a 52 week low of $20.50 and a 52 week 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. The firm has a market capitalization of $18.21 billion, a P/E ratio of -55.77, a PEG ratio of 2.51 and a beta of 1.68. The firm’s 50 day moving average is $42.60 and its two-hundred day moving average is $39.43.

APi Group (NYSE:APG – Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 EPS 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 for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current year.

APi Group Company Profile

(Free Report)

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.

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