APi Group Co. (NYSE:APG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in APi Group Co. (NYSE:APG) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,321 shares of the company’s stock after selling 23,031 shares during the quarter. Victory Capital Management Inc.’s holdings in APi Group were worth $6,635,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of APG. TD Asset Management Inc lifted its holdings in APi Group by 24.3% during the 2nd quarter. TD Asset Management Inc now owns 51,190 shares of the company’s stock worth $1,926,000 after buying an additional 10,014 shares during the last quarter. Cooke & Bieler LP lifted its stake in APi Group by 218.9% during the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock worth $108,545,000 after purchasing an additional 1,979,931 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in APi Group by 11.3% in the second quarter. Wolverine Asset Management LLC now owns 128,000 shares of the company’s stock worth $4,817,000 after purchasing an additional 13,000 shares during the period. CIBC Asset Management Inc increased its stake in APi Group by 19.0% during the second quarter. CIBC Asset Management Inc now owns 6,788 shares of the company’s stock valued at $255,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of APi Group by 0.3% during the second quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company’s stock worth $4,091,000 after purchasing an additional 323 shares during the period. Institutional investors own 86.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APG shares. Robert W. Baird lowered their price objective on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Barclays cut their price target on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two 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, APi Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

APi Group Stock Performance

Shares of APG stock opened at $34.47 on Monday. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.38. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of -16.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.56. The business has a 50 day simple moving average of $35.30 and a 200 day simple moving average of $36.90.

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

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 178,346 shares of the firm’s stock in a transaction that occurred 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 owns 14,267,479 shares in the company, valued at $503,071,309.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other APi Group news, Director Martin E. Franklin sold 178,346 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the completion of the transaction, the director now directly owns 14,267,479 shares of the company’s stock, valued at approximately $503,071,309.54. The sale was disclosed in a filing with the SEC, which is accessible through 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 value of $204,671.16. Following the completion of the sale, the senior vice president now directly owns 2,421 shares in the company, valued at approximately $87,252.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,358 shares of company stock worth $11,653,157. 16.40% of the stock is owned by corporate insiders.

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.