Bank of New York Mellon Corp Has $85 Million Stake in APi Group Corporation $APG

Bank of New York Mellon Corp boosted its stake in shares of APi Group Corporation (NYSE:APG) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,097,785 shares of the company’s stock after buying an additional 46,602 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.48% of APi Group worth $85,002,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC boosted its position in APi Group by 20.3% during the first quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock valued at $51,000 after acquiring an additional 212 shares during the last quarter. Arizona State Retirement System raised its position in shares of APi Group by 0.3% in the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock worth $3,772,000 after acquiring an additional 277 shares in the last quarter. Triad Wealth Partners LLC lifted its stake in shares of APi Group by 2.8% in the 1st quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock valued at $415,000 after purchasing an additional 283 shares during the period. Silicon Valley Capital Partners lifted its stake in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 286 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APi Group stock opened at $39.14 on Wednesday. The business’s fifty day simple moving average is $41.80 and its 200 day simple moving average is $42.77. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The firm has a market capitalization of $16.96 billion, a P/E ratio of -55.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.60.

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

Insider Buying and Selling

In related news, 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 transaction of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction 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 SEC filing for this sale provides additional information. Insiders sold 3,451,000 shares of company stock worth $149,194,935 over the last quarter. 18.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays reiterated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Citigroup restated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Finally, Truist Financial set a $55.00 target price on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.17.

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.