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

Principal Financial Group Inc. lowered its holdings in APi Group Co. (NYSE:APG) by 85.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,758 shares of the company’s stock after selling 86,975 shares during the quarter. Principal Financial Group Inc.’s holdings in APi Group were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APG. Janus Henderson Group PLC grew its position in shares of 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 buying an additional 4,808,536 shares in the last quarter. Cooke & Bieler LP grew its holdings in APi Group by 218.9% during the 2nd quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock worth $108,545,000 after acquiring an additional 1,979,931 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of APi Group by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,443,315 shares of the company’s stock valued at $253,030,000 after purchasing an additional 1,826,227 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of APi Group in the 2nd quarter valued at $67,412,000. Finally, Swedbank AB purchased a new stake in shares of APi Group during the 1st quarter worth $60,319,000. 86.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APG. JPMorgan Chase & Co. lowered their target price on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of APi Group in a report on Friday, November 1st. Robert W. Baird reduced their target price on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Barclays raised their price target on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

APi Group Trading Up 0.0 %

NYSE APG opened at $37.01 on Monday. The company’s fifty day moving average price is $34.38 and its two-hundred day moving average price is $35.52. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of -18.79 and a beta of 1.54. APi Group Co. has a 12 month low of $29.75 and a 12 month high of $39.98. 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 issued its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $0.48 earnings per share. APi Group’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that APi Group Co. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James E. Lillie sold 11,568 shares of APi Group stock in a transaction 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 in the company, valued at approximately $41,958,802.30. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the sale, the director now owns 5,478,779 shares of the company’s stock, valued at $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by corporate insiders.

APi Group Profile

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.