Principal Financial Group Inc. Lowers Stock Position in APi Group Co. (NYSE:APG)

Principal Financial Group Inc. trimmed its holdings in shares of APi Group Co. (NYSE:APG) by 85.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,758 shares of the company’s stock after selling 86,975 shares during the period. Principal Financial Group Inc.’s holdings in APi Group were worth $487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tidal Investments LLC grew its stake in APi Group by 10.8% in the 3rd quarter. Tidal Investments LLC now owns 54,553 shares of the company’s stock valued at $1,801,000 after acquiring an additional 5,337 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of APi Group in the third quarter valued at about $450,000. Virtu Financial LLC acquired a new stake in shares of APi Group in the third quarter valued at approximately $813,000. Geode Capital Management LLC raised its holdings in shares of APi Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 3,730,499 shares of the company’s stock worth $123,217,000 after acquiring an additional 106,119 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of APi Group by 1.6% in the third quarter. Barclays PLC now owns 364,281 shares of the company’s stock valued at $12,026,000 after acquiring an additional 5,701 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Transactions at APi Group

In other APi Group news, Director James E. Lillie sold 11,568 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the transaction, the director now owns 1,134,635 shares of the company’s stock, valued at $41,958,802.30. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the sale, the director now directly owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

APi Group Trading Up 2.0 %

NYSE:APG opened at $36.65 on Monday. The business’s 50-day moving average is $36.75 and its two-hundred day moving average is $35.62. The firm has a market capitalization of $10.07 billion, a PE ratio of -18.60 and a beta of 1.55. APi Group Co. has a 12 month low of $30.26 and a 12 month high of $40.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

APi Group (NYSE:APG) last announced its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that APi Group Co. will post 1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on APG. Barclays boosted their target price on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. William Blair reiterated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Citigroup increased their target price on APi Group from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a report on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus price target of $43.43.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.