Federated Hermes Inc. Buys 35,045 Shares of APi Group Corporation $APG

Federated Hermes Inc. raised its position in shares of APi Group Corporation (NYSE:APG) by 54.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,082 shares of the company’s stock after acquiring an additional 35,045 shares during the quarter. Federated Hermes Inc.’s holdings in APi Group were worth $3,405,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in APG. State Street Corp grew its position in shares of APi Group by 83.2% during the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after buying an additional 3,247,126 shares during the period. Norges Bank bought a new position in APi Group during the second quarter worth $154,149,000. Durable Capital Partners LP grew its holdings in APi Group by 19.2% in the second quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after purchasing an additional 1,712,397 shares during the period. Allspring Global Investments Holdings LLC increased its stake in APi Group by 38.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,738,403 shares of the company’s stock valued at $162,954,000 after purchasing an additional 1,316,971 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in APi Group in the third quarter valued at $45,203,000. 86.62% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Anthony E. Malkin purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was purchased at an average cost of $39.58 per share, with a total value of $118,740.00. Following the completion of the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. The trade was a 75.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 7,000 shares of company stock worth $275,720 in the last quarter. Corporate insiders own 17.00% of the company’s stock.

APi Group Price Performance

NYSE APG opened at $42.27 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The company has a market cap of $17.58 billion, a PE ratio of 115.28 and a beta of 1.70. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $43.75. The firm’s 50-day simple moving average is $40.35 and its two-hundred day simple moving average is $37.11.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APG. Citigroup restated a “buy” rating and issued a $49.00 target price (up from $45.00) on shares of APi Group in a research note on Monday, January 12th. CJS Securities raised APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. UBS Group set a $49.00 target price on APi Group and gave the stock a “buy” rating in a research report on Thursday, January 15th. Truist Financial increased their target price on APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.24.

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.