Truist Financial Corp Raises Stake in APi Group Corporation $APG

Truist Financial Corp grew its holdings in APi Group Corporation (NYSE:APG) by 29.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 189,800 shares of the company’s stock after buying an additional 43,202 shares during the period. Truist Financial Corp’s holdings in APi Group were worth $6,523,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Bares Capital Management Inc. acquired a new stake in APi Group during the 2nd quarter worth approximately $30,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of APi Group during the third quarter worth $31,000. Root Financial Partners LLC acquired a new stake in shares of APi Group during the third quarter worth $32,000. Cullen Frost Bankers Inc. grew its position in APi Group by 2,620.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock valued at $37,000 after buying an additional 1,048 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in APi Group by 49.9% in the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after buying an additional 372 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Price Performance

Shares of NYSE APG opened at $42.20 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $40.28 and its 200 day moving average price is $37.06. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $43.75. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 115.08 and a beta of 1.70.

Analyst Ratings Changes

Several analysts have recently commented on APG shares. Truist Financial raised their target price on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Citigroup reaffirmed a “buy” rating and issued a $49.00 price objective (up previously from $45.00) on shares of APi Group in a report on Monday, January 12th. CJS Securities upgraded APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. One research 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’s stock. According to data from MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.24.

Insider Transactions at APi Group

In other news, Director Anthony E. Malkin bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $39.58 per share, with a total value of $118,740.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at $277,060. This trade represents a 75.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the sale, the director owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 7,000 shares of company stock valued at $275,720. 17.00% of the stock is currently owned by company insiders.

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.