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

Principal Financial Group Inc. grew its stake in shares of APi Group Corporation (NYSE:APG) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 855,638 shares of the company’s stock after acquiring an additional 59,715 shares during the period. Principal Financial Group Inc.’s holdings in APi Group were worth $34,670,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APG. Sound Income Strategies LLC bought a new position in APi Group in the 4th quarter worth about $27,000. Silicon Valley Capital Partners increased its position in shares of APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares during the period. Parallel Advisors LLC increased its position in shares of APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after buying an additional 736 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird set a $52.00 price target on shares of APi Group in a report on Friday, May 1st. UBS Group upped their price target on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup restated a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Finally, Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.83.

APi Group Stock Down 1.7%

Shares of NYSE:APG opened at $40.14 on Friday. The stock has a market capitalization of $17.39 billion, a P/E ratio of -56.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. The stock’s 50-day moving average price is $41.98 and its 200-day moving average price is $42.74. 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 Corporation has a 12-month low of $33.40 and a 12-month high of $49.99.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm 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 business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities analysts anticipate that APi Group Corporation will post 1.71 earnings per share for the current year.

Insider Activity

In other APi Group news, Director James E. Lillie sold 59,461 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the sale, the director owned 9,237,350 shares of the company’s stock, valued at $420,299,425. This represents a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is owned by corporate insiders.

APi Group Company 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.