Hsbc Holdings PLC Sells 97,002 Shares of APi Group Corporation $APG

Hsbc Holdings PLC lowered its position in APi Group Corporation (NYSE:APG) by 35.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,124 shares of the company’s stock after selling 97,002 shares during the period. Hsbc Holdings PLC’s holdings in APi Group were worth $7,269,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in APG. Azzad Asset Management Inc. ADV purchased a new position in APi Group during the first quarter worth about $1,674,000. Granite Investment Partners LLC grew its position in APi Group by 12.5% in the 1st quarter. Granite Investment Partners LLC now owns 13,164 shares of the company’s stock worth $533,000 after purchasing an additional 1,459 shares in the last quarter. Personal CFO Solutions LLC increased its stake in APi Group by 6.1% in the 1st quarter. Personal CFO Solutions LLC now owns 8,424 shares of the company’s stock valued at $341,000 after buying an additional 481 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in APi Group by 6.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 78,728 shares of the company’s stock valued at $3,190,000 after buying an additional 5,078 shares during the last quarter. Finally, Clearwave Capital LLC bought a new position in shares of APi Group during the 1st quarter worth approximately $352,000. 86.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APG has been the topic of a number of research analyst reports. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note 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. Barclays reiterated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Robert W. Baird set a $52.00 price objective on APi Group in a research report on Friday, May 1st. Finally, Citigroup restated a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average target price of $53.17.

APi Group Trading Up 1.6%

NYSE:APG opened at $39.59 on Friday. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $41.63 and its 200 day moving average is $42.78. The stock has a market capitalization of $17.15 billion, a PE ratio of -55.75, a price-to-earnings-growth ratio of 2.28 and a beta of 1.60.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company earned $0.37 earnings per share. APi Group’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts expect that APi Group Corporation will post 1.71 earnings per share for the current year.

Insider Transactions at APi Group

In related news, Director Anthony E. Malkin sold 7,000 shares of APi Group stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,451,000 shares of company stock worth $149,194,935 over the last quarter. 18.70% of the stock is currently owned by corporate insiders.

About APi Group

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.