Principal Financial Group Inc. Has $34.67 Million Stock Holdings in APi Group Corporation $APG

Principal Financial Group Inc. lifted its stake in shares of APi Group Corporation (NYSE:APG) by 7.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 855,638 shares of the company’s stock after buying an additional 59,715 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of APi Group worth $34,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in shares of APi Group in the fourth quarter valued at about $27,000. Silicon Valley Capital Partners increased its position in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC increased its position in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after acquiring an additional 297 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APG. UBS Group increased their price target on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Robert W. Baird set a $52.00 price target on APi Group in a research report on Friday, May 1st. Finally, Barclays reaffirmed an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and a consensus price target of $53.83.

APi Group Stock Performance

Shares of APi Group stock opened at $40.14 on Friday. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. The firm has a market capitalization of $17.39 billion, a P/E ratio of -56.54, a P/E/G ratio of 2.34 and a beta of 1.60. The company’s 50 day moving average price is $41.98 and its two-hundred day moving average price is $42.74.

APi Group (NYSE:APG) last issued its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the transaction, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares in the company, valued at $426,850,249.14. This 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 have sold a total of 3,451,000 shares of company stock worth $149,194,935 in the last 90 days. 18.70% of the stock is owned by company insiders.

APi Group Company 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.