Truist Financial Corp Acquires 5,517 Shares of APi Group Co. (NYSE:APG)

Truist Financial Corp grew its holdings in APi Group Co. (NYSE:APG) by 5.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,072 shares of the company’s stock after purchasing an additional 5,517 shares during the period. Truist Financial Corp’s holdings in APi Group were worth $3,916,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in APi Group by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 21,822,007 shares of the company’s stock valued at $856,950,000 after buying an additional 1,031,564 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of APi Group by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,443,315 shares of the company’s stock valued at $253,030,000 after acquiring an additional 1,826,227 shares during the last quarter. Findlay Park Partners LLP increased its position in shares of APi Group by 39.1% in the first quarter. Findlay Park Partners LLP now owns 5,193,748 shares of the company’s stock valued at $203,958,000 after acquiring an additional 1,459,000 shares during the last quarter. Janus Henderson Group PLC raised its holdings in APi Group by 6,312.4% during the first quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company’s stock worth $191,822,000 after acquiring an additional 4,808,536 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in APi Group by 271.2% during the first quarter. Capital Research Global Investors now owns 4,321,383 shares of the company’s stock valued at $169,701,000 after purchasing an additional 3,157,283 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Price Performance

NYSE:APG opened at $32.08 on Wednesday. The firm’s fifty day moving average price is $34.15 and its two-hundred day moving average price is $36.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.38. The company has a market cap of $8.80 billion, a P/E ratio of -14.92 and a beta of 1.55. APi Group Co. has a one year low of $24.61 and a one year high of $39.98.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. APi Group’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. Equities analysts expect that APi Group Co. will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of analyst reports. Barclays dropped their price objective on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their price target on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird decreased their price objective on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 178,346 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total value of $6,288,479.96. Following the transaction, the director now directly owns 14,267,479 shares of the company’s stock, valued at $503,071,309.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Martin E. Franklin sold 178,346 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the transaction, the director now directly owns 14,267,479 shares in the company, valued at approximately $503,071,309.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the sale, the director now owns 5,678,779 shares of the company’s stock, valued at $187,570,070.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 340,358 shares of company stock valued at $11,653,157. Insiders own 16.40% of the company’s stock.

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.