Hsbc Holdings PLC Boosts Holdings in APi Group Corporation $APG

Hsbc Holdings PLC lifted its holdings in APi Group Corporation (NYSE:APG) by 324.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 277,126 shares of the company’s stock after purchasing an additional 211,892 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of APi Group worth $10,603,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in APi Group in the 4th quarter valued at approximately $27,000. Clearstead Advisors LLC increased its position in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after acquiring an additional 427 shares during the period. 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 worth $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC raised its stake in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in 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 valued at $29,000 after purchasing an additional 722 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird set a $52.00 price objective on shares of APi Group in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. UBS Group increased their target price on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada lifted their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.14.

Insider Activity at APi Group

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director directly owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. The disclosure for this sale is available in the SEC filing. Insiders sold 3,451,000 shares of company stock valued at $149,194,935 in the last ninety days. 18.70% of the stock is currently owned by insiders.

APi Group Stock Down 0.6%

APG stock opened at $41.70 on Friday. The stock has a market cap of $18.06 billion, a P/E ratio of -58.73, a PEG ratio of 2.46 and a beta of 1.60. 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 twelve month low of $32.70 and a twelve month high of $49.99. The company’s 50 day moving average is $43.76 and its two-hundred day moving average is $42.50.

APi Group (NYSE:APG) last issued its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 EPS. Research analysts expect that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

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.