APi Group Stock to Split on Tuesday, July 1st (NYSE:APG)

Shares of APi Group Corporation (NYSE:APG - Free Report) are set to split on the morning of Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Monday, June 30th.

APi Group Price Performance

APG traded up $0.03 during midday trading on Wednesday, reaching $48.92. 1,488,339 shares of the company's stock were exchanged, compared to its average volume of 1,718,747. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.47 and a quick ratio of 1.38. The stock has a market capitalization of $13.54 billion, a PE ratio of 106.34 and a beta of 1.58. The business's 50-day moving average price is $43.00 and its 200 day moving average price is $39.20. APi Group has a 1-year low of $30.76 and a 1-year high of $49.55.

APi Group (NYSE:APG - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a net margin of 3.36% and a return on equity of 20.99%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, equities analysts anticipate that APi Group will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial lifted their target price on shares of APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. UBS Group upped their price objective on shares of APi Group from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird upped their price objective on shares of APi Group from $47.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Citigroup reduced their price objective on shares of APi Group from $46.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, APi Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.57.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the transaction, the director now owns 5,612,102 shares of the company's stock, valued at $239,748,997.44. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On APi Group

Large investors have recently bought and sold shares of the stock. Voya Investment Management LLC increased its position in shares of APi Group by 4.6% in the first quarter. Voya Investment Management LLC now owns 28,883 shares of the company's stock worth $1,033,000 after acquiring an additional 1,261 shares in the last quarter. Rhumbline Advisers increased its position in shares of APi Group by 0.4% in the first quarter. Rhumbline Advisers now owns 220,997 shares of the company's stock worth $7,903,000 after acquiring an additional 920 shares in the last quarter. Strs Ohio acquired a new stake in shares of APi Group in the first quarter worth $11,877,000. Focus Partners Wealth increased its position in shares of APi Group by 19.2% in the first quarter. Focus Partners Wealth now owns 254,781 shares of the company's stock worth $9,111,000 after acquiring an additional 41,044 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of APi Group by 114.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,802,773 shares of the company's stock worth $100,227,000 after acquiring an additional 1,495,268 shares in the last quarter. Hedge funds and other institutional investors own 86.62% 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.