Principal Financial Group Inc. Raises Holdings in APi Group Corporation $APG

Principal Financial Group Inc. increased its position in APi Group Corporation (NYSE:APG) by 49.4% in the 3rd quarter, Holdings Channel reports. The firm owned 822,118 shares of the company’s stock after buying an additional 271,950 shares during the period. Principal Financial Group Inc.’s holdings in APi Group were worth $28,256,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Bares Capital Management Inc. purchased a new position in APi Group during the 2nd quarter worth approximately $30,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of APi Group in the third quarter valued at approximately $31,000. Root Financial Partners LLC purchased a new position in shares of APi Group during the third quarter worth approximately $32,000. Cullen Frost Bankers Inc. increased its holdings in shares of APi Group by 2,620.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock valued at $37,000 after acquiring an additional 1,048 shares during the period. Finally, Whittier Trust Co. raised its position in APi Group by 49.9% in the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays boosted their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.24.

Insider Activity at APi Group

In other APi Group news, Director Anthony E. Malkin purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were purchased at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at $277,060. This represents a 75.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 7,000 shares of company stock valued at $275,720. 17.00% of the stock is owned by company insiders.

APi Group Price Performance

Shares of NYSE:APG opened at $44.55 on Friday. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $44.60. The company has a 50-day moving average price of $40.58 and a 200 day moving average price of $37.25. The company has a market cap of $18.53 billion, a P/E ratio of 121.50 and a beta of 1.70. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84.

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.