Hsbc Holdings PLC Boosts Position in APi Group Corporation $APG

Hsbc Holdings PLC raised its holdings in shares of APi Group Corporation (NYSE:APG) by 324.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,126 shares of the company’s stock after acquiring 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 quarter.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of APi Group during the first quarter worth $650,000. Goldman Sachs Group Inc. boosted its holdings in APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after purchasing an additional 75,490 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in APi Group by 547.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP grew its position in APi Group by 166.5% during the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock worth $8,861,000 after purchasing an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC raised its stake in shares of APi Group by 5.7% during the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after buying an additional 612 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Trading Up 0.5%

Shares of APi Group stock opened at $41.51 on Thursday. The firm has a 50-day simple moving average of $42.70 and a two-hundred day simple moving average of $42.67. The company has a market cap of $17.98 billion, a P/E ratio of -58.46, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts predict that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the sale, the director directly owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. The trade was a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the business’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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,451,000 shares of company stock worth $149,194,935. Company insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APG shares. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup reaffirmed a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Robert W. Baird set a $52.00 price target on APi Group in a report on Friday, May 1st. UBS Group upped their price objective on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

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.