Fifth Third Bancorp Boosts Stock Position in APi Group Corporation $APG

Fifth Third Bancorp boosted its holdings in shares of APi Group Corporation (NYSE:APG) by 639.3% during the first quarter, Holdings Channel.com reports. The firm owned 114,995 shares of the company’s stock after acquiring an additional 99,441 shares during the period. Fifth Third Bancorp’s holdings in APi Group were worth $4,660,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of APG. Sound Income Strategies LLC purchased a new position in shares of APi Group in the 4th quarter worth $27,000. Silicon Valley Capital Partners raised its position in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position in APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after acquiring an additional 736 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

APG stock opened at $40.14 on Friday. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of -56.54, a PEG ratio of 2.38 and a beta of 1.60. The business’s fifty day simple moving average is $41.98 and its two-hundred day simple moving average is $42.74. 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 earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Analysts predict that APi Group Corporation will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on APG shares. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group increased their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 1st. Citigroup reaffirmed a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Finally, Barclays reiterated an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.83.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the completion of the sale, the director owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. This trade represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is currently owned by insiders.

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.