APi Group Co. (NYSE:APG) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of APi Group Co. (NYSE:APG) by 83.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,138 shares of the company’s stock after selling 78,933 shares during the quarter. Hsbc Holdings PLC’s holdings in APi Group were worth $582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in APi Group by 118.2% in the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company’s stock valued at $393,774,000 after buying an additional 5,931,314 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of APi Group in the 4th quarter valued at approximately $125,407,000. Norges Bank purchased a new position in shares of APi Group during the 4th quarter worth approximately $98,028,000. Handelsbanken Fonder AB increased its holdings in APi Group by 1,106.9% in the 4th quarter. Handelsbanken Fonder AB now owns 643,300 shares of the company’s stock valued at $23,140,000 after purchasing an additional 590,000 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in APi Group by 19.7% in the fourth quarter. GW&K Investment Management LLC now owns 2,631,409 shares of the company’s stock valued at $94,652,000 after purchasing an additional 432,926 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APG shares. Robert W. Baird lifted their price objective on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada upgraded shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Tuesday, January 14th. Truist Financial reissued a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Barclays upped their target price on shares of APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group decreased their price target on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction dated 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 sale, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.00% of the stock is owned by corporate insiders.

APi Group Price Performance

APi Group stock opened at $42.47 on Wednesday. The stock has a market cap of $11.73 billion, a P/E ratio of -21.56 and a beta of 1.54. The company has a fifty day simple moving average of $36.48 and a 200-day simple moving average of $36.87. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group Co. has a 12-month low of $30.76 and a 12-month high of $43.00.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that APi Group Co. will post 1.83 EPS for the current fiscal year.

APi Group 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.