Principal Financial Group Inc. Decreases Stake in APi Group Co. (NYSE:APG)

Principal Financial Group Inc. lessened its stake in APi Group Co. (NYSE:APG) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,716 shares of the company’s stock after selling 3,042 shares during the quarter. Principal Financial Group Inc.’s holdings in APi Group were worth $421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APG. First Horizon Advisors Inc. purchased a new position in APi Group in the 3rd quarter worth approximately $26,000. Blue Trust Inc. boosted its holdings in APi Group by 92.3% in the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the period. Avior Wealth Management LLC purchased a new position in APi Group in the 3rd quarter worth approximately $33,000. ORG Wealth Partners LLC purchased a new position in APi Group in the 4th quarter worth approximately $34,000. Finally, Strategic Financial Concepts LLC boosted its holdings in APi Group by 2,058.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock worth $82,000 after acquiring an additional 217,071 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Activity at APi Group

In other APi Group news, Director James E. Lillie sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.20% of the company’s stock.

APi Group Stock Performance

APG stock opened at $36.30 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The firm has a market cap of $10.07 billion, a P/E ratio of -18.42 and a beta of 1.54. APi Group Co. has a 12-month low of $31.44 and a 12-month high of $41.31. The stock’s 50 day simple moving average is $37.66 and its 200 day simple moving average is $36.11.

Analysts Set New Price Targets

A number of research firms have weighed in on APG. UBS Group decreased their price target on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Robert W. Baird upped their target price on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Citigroup cut their target price on APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

APi Group Company 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.