Bank of New York Mellon Corp Trims Stock Holdings in APi Group Co. (NYSE:APG)

Bank of New York Mellon Corp lowered its stake in shares of APi Group Co. (NYSE:APG) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 715,128 shares of the company’s stock after selling 248,751 shares during the period. Bank of New York Mellon Corp owned 0.26% of APi Group worth $25,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APG. Janus Henderson Group PLC boosted its stake in shares of APi Group by 19.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock worth $277,079,000 after purchasing an additional 1,351,013 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of APi Group by 1,106.9% during the fourth quarter. Handelsbanken Fonder AB now owns 643,300 shares of the company’s stock valued at $23,140,000 after buying an additional 590,000 shares during the period. Two Sigma Advisers LP boosted its position in APi Group by 124.7% during the third quarter. Two Sigma Advisers LP now owns 894,600 shares of the company’s stock worth $29,540,000 after acquiring an additional 496,500 shares during the last quarter. Progeny 3 Inc. grew its stake in APi Group by 24.2% in the 3rd quarter. Progeny 3 Inc. now owns 2,298,025 shares of the company’s stock worth $75,881,000 after acquiring an additional 447,200 shares during the period. Finally, Swedbank AB raised its holdings in APi Group by 18.8% in the 3rd quarter. Swedbank AB now owns 2,209,000 shares of the company’s stock valued at $72,941,000 after acquiring an additional 349,000 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APG. Robert W. Baird raised their price objective on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Truist Financial restated a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of APi Group in a report on Thursday, February 27th. Citigroup reduced their target price on APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, UBS Group dropped their price target on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Insider Activity

In related news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the transaction, the director now directly owns 1,046,203 shares of the company’s stock, valued at approximately $39,724,327.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 18.20% of the company’s stock.

APi Group Trading Up 0.6 %

NYSE:APG opened at $36.30 on Monday. The business’s 50-day moving average is $37.66 and its two-hundred day moving average is $36.12. The firm has a market capitalization of $10.07 billion, a PE 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 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 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.