PNC Financial Services Group Inc. Grows Position in APi Group Co. (NYSE:APG)

PNC Financial Services Group Inc. increased its position in shares of APi Group Co. (NYSE:APG) by 51.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,953 shares of the company’s stock after buying an additional 11,878 shares during the period. PNC Financial Services Group Inc.’s holdings in APi Group were worth $1,209,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APG. Price T Rowe Associates Inc. MD purchased a new stake in shares of APi Group during the fourth quarter worth approximately $159,751,000. Gates Capital Management Inc. purchased a new position in APi Group in the fourth quarter valued at approximately $111,729,000. Norges Bank purchased a new position in APi Group in the fourth quarter valued at approximately $77,071,000. Vanguard Group Inc. increased its stake in APi Group by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 20,790,443 shares of the company’s stock valued at $719,349,000 after purchasing an additional 1,930,059 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in APi Group in the fourth quarter valued at approximately $40,278,000. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Royal Bank of Canada increased their price target on APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a report on Monday, April 8th. UBS Group increased their price target on APi Group from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. TheStreet downgraded APi Group from a “b” rating to a “c+” rating in a report on Wednesday, February 28th. Finally, Citigroup increased their price target on APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.29.

APi Group Stock Down 0.2 %

APG opened at $38.25 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.35 and a quick ratio of 1.26. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of -17.79, a price-to-earnings-growth ratio of 1.14 and a beta of 1.57. The business has a 50-day moving average of $37.32 and a two-hundred day moving average of $35.81. APi Group Co. has a 12 month low of $24.61 and a 12 month high of $39.98.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. APi Group had a return on equity of 37.83% and a net margin of 2.49%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, research analysts expect that APi Group Co. will post 1.85 earnings per share for the current year.

Insider Activity

In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $37.21, for a total value of $5,581,500.00. Following the transaction, the director now directly owns 5,828,779 shares in the company, valued at $216,888,866.59. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

About APi Group

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.