Fifth Third Bancorp Boosts Position in APi Group Corporation $APG

Fifth Third Bancorp raised its position in APi Group Corporation (NYSE:APG) by 639.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,995 shares of the company’s stock after acquiring an additional 99,441 shares during the quarter. Fifth Third Bancorp’s holdings in APi Group were worth $4,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of APG. Janus Henderson Group PLC lifted its stake in shares of APi Group by 4.0% in the 4th quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company’s stock worth $884,409,000 after purchasing an additional 887,729 shares during the period. Durable Capital Partners LP grew its position in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after buying an additional 4,274,610 shares during the period. Viking Global Investors LP increased its holdings in APi Group by 6.7% during the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock valued at $422,967,000 after buying an additional 768,759 shares during the last quarter. State Street Corp increased its holdings in APi Group by 0.8% during the fourth quarter. State Street Corp now owns 10,863,164 shares of the company’s stock valued at $415,625,000 after buying an additional 91,388 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in APi Group by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company’s stock worth $277,465,000 after acquiring an additional 624,529 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group boosted their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 1st. Barclays restated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Truist Financial set a $55.00 price objective on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.83.

APi Group Stock Performance

NYSE:APG opened at $40.14 on Friday. The stock has a 50-day moving average price of $41.98 and a 200 day moving average price of $42.74. The stock has a market capitalization of $17.39 billion, a P/E ratio of -56.54, a P/E/G ratio of 2.38 and a beta of 1.60. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. Equities research analysts forecast that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Insider Activity at APi Group

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This represents a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Lillie sold 225,539 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total value of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares of the company’s stock, valued at approximately $417,147,909.57. The trade was a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,451,000 shares of company stock valued at $149,194,935. Insiders own 18.70% of the company’s stock.

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.