Bridges Investment Management Inc. Buys New Position in APi Group Co. (NYSE:APG)

Bridges Investment Management Inc. purchased a new position in APi Group Co. (NYSE:APG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,964 shares of the company’s stock, valued at approximately $413,000.

Other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd increased its stake in shares of APi Group by 221.5% in the 2nd quarter. XTX Topco Ltd now owns 39,552 shares of the company’s stock worth $1,488,000 after purchasing an additional 27,249 shares in the last quarter. Hsbc Holdings PLC increased its position in APi Group by 86.8% in the second quarter. Hsbc Holdings PLC now owns 29,751 shares of the company’s stock worth $1,131,000 after buying an additional 13,827 shares in the last quarter. Amalgamated Bank increased its position in APi Group by 75.9% in the second quarter. Amalgamated Bank now owns 12,459 shares of the company’s stock worth $469,000 after buying an additional 5,377 shares in the last quarter. Tredje AP fonden bought a new position in shares of APi Group in the second quarter worth about $2,032,000. Finally, DHK Financial Advisors Inc. purchased a new position in shares of APi Group during the 2nd quarter valued at about $785,000. 86.62% of the stock is currently owned by institutional investors.

APi Group Price Performance

APG stock opened at $35.22 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.48. The company’s fifty day moving average price is $35.08 and its 200-day moving average price is $36.83. APi Group Co. has a one year low of $24.61 and a one year high of $39.98. The company has a market capitalization of $9.66 billion, a PE ratio of -16.38, a price-to-earnings-growth ratio of 0.99 and a beta of 1.56.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that APi Group Co. will post 1.87 EPS for the current fiscal year.

Insider Activity at APi Group

In other news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the sale, the director now directly owns 5,678,779 shares of the company’s stock, valued at approximately $187,570,070.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.03, for a total value of $4,954,500.00. Following the completion of the transaction, the director now directly owns 5,678,779 shares of the company’s stock, valued at $187,570,070.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Louis Lambert sold 5,679 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $36.04, for a total transaction of $204,671.16. Following the completion of the sale, the senior vice president now owns 2,421 shares in the company, valued at approximately $87,252.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 340,358 shares of company stock valued at $11,653,157. Insiders own 16.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on APG shares. Robert W. Baird decreased their target price on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays lowered their target price on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.