Bank of America Corp DE Has $66.42 Million Holdings in APi Group Co. (NYSE:APG)

Bank of America Corp DE lessened its holdings in APi Group Co. (NYSE:APG - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,846,531 shares of the company's stock after selling 159,000 shares during the quarter. Bank of America Corp DE owned 0.67% of APi Group worth $66,420,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in APG. Capital Research Global Investors grew its stake in APi Group by 118.2% in the fourth quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock valued at $393,774,000 after purchasing an additional 5,931,314 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of APi Group in the fourth quarter valued at $125,407,000. Norges Bank acquired a new position in APi Group during the fourth quarter worth $98,028,000. Price T Rowe Associates Inc. MD increased its holdings in APi Group by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company's stock worth $562,120,000 after buying an additional 2,602,758 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in APi Group by 100.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,860,463 shares of the company's stock worth $138,861,000 after acquiring an additional 1,936,924 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

APi Group Stock Performance

Shares of APG traded up $0.10 during mid-day trading on Friday, hitting $45.88. 1,681,753 shares of the company's stock were exchanged, compared to its average volume of 1,714,645. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of -23.29 and a beta of 1.54. The stock's 50-day simple moving average is $37.57 and its 200-day simple moving average is $37.39. APi Group Co. has a 52 week low of $30.76 and a 52 week high of $46.18.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group reduced their target price on APi Group from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Robert W. Baird increased their price objective on shares of APi Group from $40.00 to $46.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Citigroup reduced their target price on shares of APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. increased their price target on shares of APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a report on Friday. Finally, Truist Financial restated a "buy" rating and set a $48.00 price objective (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.57.

Insider Buying and Selling at APi Group

In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the transaction, the director now directly owns 5,612,102 shares in the company, valued at approximately $239,748,997.44. This represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 50,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total value of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.00% of the company's stock.

APi Group Company 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.