Bank of New York Mellon Corp Raises Position in APi Group Corporation $APG

Bank of New York Mellon Corp increased its stake in APi Group Corporation (NYSE:APG) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,097,785 shares of the company’s stock after acquiring an additional 46,602 shares during the period. Bank of New York Mellon Corp’s holdings in APi Group were worth $85,002,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

APG has been the subject of several recent analyst reports. Robert W. Baird set a $52.00 price objective on shares of APi Group in a research note on Friday, May 1st. Barclays reissued an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Citigroup restated a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.17.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 1,018,466 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the sale, the director directly owned 9,542,818 shares in the company, valued at approximately $426,850,249.14. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the company’s stock in a transaction on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,451,000 shares of company stock worth $149,194,935 in the last 90 days. 18.70% of the stock is owned by company insiders.

APi Group Stock Performance

APi Group stock opened at $39.14 on Wednesday. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99. The stock’s 50 day simple moving average is $41.80 and its two-hundred day simple moving average is $42.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of -55.13, a PEG ratio of 2.30 and a beta of 1.60.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 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 analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. As a group, analysts expect that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

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.