Principal Financial Group Inc. Increases Position in APi Group Corporation $APG

Principal Financial Group Inc. raised its position in shares of APi Group Corporation (NYSE:APG) by 49.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 822,118 shares of the company’s stock after buying an additional 271,950 shares during the period. Principal Financial Group Inc. owned about 0.20% of APi Group worth $28,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. boosted its holdings in APi Group by 49.9% during the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after acquiring an additional 372 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of APi Group by 50.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock worth $44,000 after purchasing an additional 425 shares in the last quarter. Ulland Investment Advisors LLC grew its holdings in shares of APi Group by 41.5% in the second quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $77,000 after purchasing an additional 440 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in APi Group by 1.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 43,000 shares of the company’s stock worth $2,195,000 after buying an additional 500 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in APi Group by 9.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,941 shares of the company’s stock worth $303,000 after buying an additional 521 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Anthony E. Malkin bought 3,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the acquisition, the director owned 7,000 shares in the company, valued at approximately $277,060. This represents a 75.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 7,000 shares of company stock worth $275,720 over the last 90 days. 17.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APG has been the subject of several research reports. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. UBS Group set a $49.00 target price on APi Group and gave the stock a “buy” rating in a research note on Thursday, January 15th. Barclays upped their price target on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Truist Financial lifted their price objective on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. 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 given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.24.

APi Group Trading Up 3.7%

APG opened at $44.55 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. APi Group Corporation has a one year low of $20.50 and a one year high of $44.60. The company has a market cap of $18.53 billion, a P/E ratio of 121.50 and a beta of 1.70. The business’s 50-day simple moving average is $40.58 and its 200-day simple moving average is $37.25.

About APi Group

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.