APi Group Co. (NYSE:APG) Shares Sold by Progeny 3 Inc.

Progeny 3 Inc. lowered its stake in shares of APi Group Co. (NYSE:APG) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,657,330 shares of the company’s stock after selling 193,495 shares during the quarter. APi Group comprises approximately 6.2% of Progeny 3 Inc.’s investment portfolio, making the stock its 5th largest holding. Progeny 3 Inc. owned about 0.60% of APi Group worth $62,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of APG. Point72 DIFC Ltd purchased a new stake in APi Group during the 2nd quarter worth approximately $3,110,000. Marshall Wace LLP acquired a new stake in shares of APi Group during the second quarter worth $1,079,000. Hood River Capital Management LLC grew its holdings in shares of APi Group by 4.0% during the second quarter. Hood River Capital Management LLC now owns 1,141,485 shares of the company’s stock valued at $42,954,000 after buying an additional 43,547 shares during the last quarter. Sei Investments Co. increased its position in shares of APi Group by 25.5% in the 2nd quarter. Sei Investments Co. now owns 376,285 shares of the company’s stock valued at $14,160,000 after acquiring an additional 76,337 shares during the period. Finally, Bridges Investment Management Inc. purchased a new position in APi Group in the 2nd quarter worth $413,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Louis Lambert sold 5,679 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $36.04, for a total value of $204,671.16. Following the completion of the transaction, the senior vice president now owns 2,421 shares of the company’s stock, valued at approximately $87,252.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other APi Group news, SVP Louis Lambert sold 5,679 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $36.04, for a total transaction of $204,671.16. Following the completion of the transaction, the senior vice president now directly owns 2,421 shares in the company, valued at $87,252.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin E. Franklin sold 178,346 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the transaction, the director now directly owns 14,267,479 shares in the company, valued at $503,071,309.54. The disclosure for this sale can be found here. Insiders have sold 340,358 shares of company stock worth $11,653,157 in the last ninety days. Company insiders own 16.40% of the company’s stock.

APi Group Trading Down 2.1 %

Shares of NYSE:APG opened at $34.48 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98. The business has a 50 day moving average of $35.02 and a two-hundred day moving average of $36.78. The company has a market capitalization of $9.46 billion, a PE ratio of -16.04, a PEG ratio of 0.99 and a beta of 1.56.

APi Group (NYSE:APG) last posted its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. As a group, analysts forecast that APi Group Co. will post 1.87 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on APG shares. Barclays dropped their price target on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on 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, Robert W. Baird cut their price target on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average price target of $43.86.

APi Group Company Profile

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.