Truist Financial Corp Sells 128,811 Shares of APi Group Corporation $APG

Truist Financial Corp decreased its holdings in APi Group Corporation (NYSE:APG) by 67.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 60,989 shares of the company’s stock after selling 128,811 shares during the quarter. Truist Financial Corp’s holdings in APi Group were worth $2,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in APG. AQR Capital Management LLC purchased a new stake in APi Group during the 1st quarter valued at approximately $650,000. Goldman Sachs Group Inc. lifted its position in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after buying an additional 75,490 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after buying an additional 1,078 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after purchasing an additional 108,447 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in shares of APi Group by 5.7% in the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after purchasing an additional 612 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other APi Group news, Director James E. Lillie sold 225,539 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the completion of the transaction, the director owned 9,296,811 shares in the company, valued at $417,147,909.57. The trade was a 2.37% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares of the company’s stock, valued at $426,850,249.14. This trade represents a 9.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,126,000 shares of company stock valued at $217,071,030 over the last three months. 18.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APG. UBS Group raised their target price on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Barclays reissued an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Robert W. Baird set a $52.00 price target on APi Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.14.

APi Group Stock Up 0.1%

NYSE APG opened at $43.22 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average of $43.66 and a two-hundred day moving average of $41.43. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of -60.87, a PEG ratio of 2.54 and a beta of 1.67. APi Group Corporation has a 52 week low of $30.00 and a 52 week high of $49.99.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. APi Group’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, analysts predict that APi Group Corporation will post 1.7 earnings per share for the current year.

APi Group Profile

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.