Bank of America Corp DE Has $101.78 Million Position in APi Group Corporation $APG

Bank of America Corp DE decreased its stake in APi Group Corporation (NYSE:APG) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,511,809 shares of the company’s stock after selling 241,322 shares during the period. Bank of America Corp DE’s holdings in APi Group were worth $101,779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of APi Group during the fourth quarter valued at about $5,593,000. Hantz Financial Services Inc. grew its stake in shares of APi Group by 628.7% in the 4th quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company’s stock valued at $6,658,000 after buying an additional 150,139 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of APi Group by 5,212.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company’s stock valued at $15,747,000 after buying an additional 403,842 shares during the period. M.D. Sass LLC increased its position in APi Group by 3.4% in the 4th quarter. M.D. Sass LLC now owns 2,005,327 shares of the company’s stock valued at $76,724,000 after buying an additional 66,753 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in APi Group by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 855,638 shares of the company’s stock valued at $34,670,000 after buying an additional 59,715 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Lillie sold 285,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.84, for a total value of $11,354,400.00. Following the transaction, the director directly owned 8,952,350 shares of the company’s stock, valued at approximately $356,661,624. This trade represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,667,000 shares of company stock valued at $110,810,972 in the last three months. Insiders own 18.70% of the company’s stock.

APi Group Stock Up 1.2%

APG opened at $41.76 on Friday. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99. The firm has a market capitalization of $18.04 billion, a P/E ratio of -62.32, a PEG ratio of 2.40 and a beta of 1.60. The company’s 50-day moving average is $41.28 and its 200 day moving average is $42.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32.

APi Group (NYSE:APG) last released its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company posted $0.39 earnings per share. APi Group’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts expect that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on APG shares. UBS Group set a $52.00 price target on APi Group in a report on Monday, July 20th. Citigroup restated a “buy” rating and set a $54.00 price objective (up from $53.00) on shares of APi Group in a report on Friday, July 31st. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Barclays reiterated an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, Robert W. Baird set a $47.00 price objective on shares of APi Group in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.57.

APi Group Profile

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.