2,196,689 Shares in APi Group Corporation $APG Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in APi Group Corporation (NYSE:APG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,196,689 shares of the company's stock, valued at approximately $93,030,000. Bank of New York Mellon Corp owned approximately 0.51% of APi Group as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in APG. Root Financial Partners LLC grew its stake in shares of APi Group by 20.3% during the first quarter. Root Financial Partners LLC now owns 1,256 shares of the company's stock valued at $51,000 after acquiring an additional 212 shares in the last quarter. Arista Wealth Management LLC grew its stake in APi Group by 1.4% during the 2nd quarter. Arista Wealth Management LLC now owns 19,125 shares of the company's stock valued at $810,000 after purchasing an additional 270 shares in the last quarter. Arizona State Retirement System grew its stake in APi Group by 0.3% during the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company's stock valued at $3,772,000 after purchasing an additional 277 shares in the last quarter. Triad Wealth Partners LLC increased its stake in shares of APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company's stock worth $415,000 after buying an additional 283 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its holdings in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock valued at $29,000 after acquiring an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

Insiders Place Their Bets

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the sale, the director directly owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Lillie sold 285,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.84, for a total transaction of $11,354,400.00. Following the completion of the transaction, the director owned 8,952,350 shares of the company's stock, valued at $356,661,624. This trade represents a 3.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 2,667,000 shares of company stock worth $110,810,972. Insiders own 18.70% of the company's stock.

APi Group Stock Performance

APG stock opened at $40.73 on Tuesday. APi Group Corporation has a 1 year low of $33.40 and a 1 year high of $49.99. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of -60.78, a PEG ratio of 2.40 and a beta of 1.60. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. The stock's fifty day moving average is $41.42 and its two-hundred day moving average is $42.70.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, research analysts predict that APi Group Corporation will post 1.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on APG shares. Weiss Ratings downgraded APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. Barclays reiterated an "overweight" rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Wall Street Zen lowered APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Citigroup restated a "buy" rating and set a $54.00 price objective (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. Finally, Wells Fargo & Company started coverage on shares of APi Group in a research report on Tuesday, August 4th. They set an "overweight" rating and a $53.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.57.

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.

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