Event ID 1300 Apm Stub - Monitor initialization has failed - .Net applications not monitored

I have setup APM several times in the past on both web farm and standalone servers and had no issues. I am trying to get APM setup on a couple new web farms and it is not working. In the Operations Manager event log on each web farm server I am trying to monitor applications, there are Event ID 1300 - Source: Apm Stub "Monitor initialization has failed. Monitoring is diabled" messages. They look to appear when the agent service is restarted.

I have already gone through the entire process of setting up application discovery, adding the applicationHost configuration file access account as a RunAs account in SCOM and assigned that account to the "Privileged Monitoring Account" profile for each server that I need the credentials pass to the SCOM Agent. The RunAs account has Administrator permissions on every web farm server. I created the .Net application monitoring groups and made sure I assigned the correct resources that I need to monitor. I recycled both IIS and app pools, even restarted servers. Like I said, I have done this in the past successfully. I am not sure what the problem is here.

I've also enabled Trace logging in the SCOM agent, but the data that is returned seems useless. I used the TraceConfig tool and enabled Tracing on all APM Trace Areas. It writes the ETL file, but when I view it, every message says:

Unknown (xx):GUID=xxxx-xxxxx-xxxxx (No Format Information found). 

*NOTE There are several GUIDs in these messages. I just omitted that info.

The Operating System on every server is Windows 2012 R2. This is only .Net Web Application monitoring, no Windows Service monitoring. Any help is appreciated. I am close to opening a call with support because I have developers needing to monitor a new application which they are experiencing issues with.