APi Group Corporation $APG Shares Bought by Hsbc Holdings PLC

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

A number of other hedge funds have also modified their holdings of APG. Janus Henderson Group PLC boosted its position in APi Group by 4.0% during the fourth quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company’s stock worth $884,409,000 after acquiring an additional 887,729 shares during the last quarter. Durable Capital Partners LP grew its stake in APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after acquiring an additional 4,274,610 shares in the last quarter. Viking Global Investors LP increased its stake in shares of APi Group by 6.7% in the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after acquiring an additional 768,759 shares during the last quarter. State Street Corp raised its holdings in shares of APi Group by 0.8% during the 4th quarter. State Street Corp now owns 10,863,164 shares of the company’s stock worth $415,625,000 after acquiring an additional 91,388 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 624,529 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at APi Group

In other news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James E. Lillie sold 59,461 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the transaction, the director owned 9,237,350 shares in the company, valued at approximately $420,299,425. This represents a 0.64% 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 have sold 3,451,000 shares of company stock valued at $149,194,935 in the last ninety days. Insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on APG shares. Citigroup reissued a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Robert W. Baird set a $52.00 target price on shares of APi Group in a report on Friday, May 1st. UBS Group increased their price target on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Barclays restated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.14.

APi Group Stock Performance

Shares of APi Group stock opened at $41.51 on Thursday. APi Group Corporation has a 52 week low of $33.40 and a 52 week high of $49.99. The business’s fifty day simple moving average is $42.70 and its 200-day simple moving average is $42.67. The firm has a market cap of $17.98 billion, a PE ratio of -58.46, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS. Equities analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current 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.