Hsbc Holdings PLC Lowers Position in APi Group Co. (NYSE:APG)

Hsbc Holdings PLC cut its position in shares of APi Group Co. (NYSE:APG - Free Report) by 83.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,138 shares of the company's stock after selling 78,933 shares during the period. Hsbc Holdings PLC's holdings in APi Group were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APG. Vanguard Group Inc. boosted its stake in shares of APi Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,124,584 shares of the company's stock valued at $831,791,000 after purchasing an additional 127,038 shares in the last quarter. Capital Research Global Investors grew its position in APi Group by 118.2% during the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock worth $393,774,000 after purchasing an additional 5,931,314 shares during the period. Cooke & Bieler LP boosted its position in APi Group by 3.4% in the 4th quarter. Cooke & Bieler LP now owns 4,020,768 shares of the company's stock worth $144,627,000 after purchasing an additional 132,713 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in APi Group during the fourth quarter valued at $125,407,000. Finally, Norges Bank acquired a new position in shares of APi Group in the fourth quarter worth about $98,028,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James E. Lillie sold 50,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the director now owns 1,046,203 shares in the company, valued at $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 available through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the sale, the director now owns 5,612,102 shares of the company's stock, valued at $239,748,997.44. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APG. Truist Financial restated a "buy" rating and issued a $48.00 price target (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Citigroup decreased their target price on APi Group from $46.00 to $42.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group cut their target price on shares of APi Group from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada raised APi Group from a "sector perform" rating to an "outperform" rating and set a $45.00 target price for the company in a report on Tuesday, January 14th. Finally, Barclays lifted 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, APi Group has a consensus rating of "Moderate Buy" and a consensus target price of $43.86.

APi Group Trading Up 0.4 %

APi Group stock traded up $0.18 during mid-day trading on Friday, hitting $44.10. The company's stock had a trading volume of 1,492,555 shares, compared to its average volume of 1,700,413. The stock's fifty day moving average is $36.84 and its two-hundred day moving average is $37.05. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $12.21 billion, a PE ratio of -22.39 and a beta of 1.54. APi Group Co. has a 1 year low of $30.76 and a 1 year high of $44.37.

APi Group (NYSE:APG - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. APi Group's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, analysts anticipate that APi Group Co. will post 1.83 EPS for the current 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.