Principal Financial Group Inc. Cuts Holdings in APi Group Co. (NYSE:APG)

Principal Financial Group Inc. decreased its position in APi Group Co. (NYSE:APG - Free Report) by 85.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,758 shares of the company's stock after selling 86,975 shares during the quarter. Principal Financial Group Inc.'s holdings in APi Group were worth $487,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC grew its holdings in shares of APi Group by 1.1% during the first quarter. Cetera Advisors LLC now owns 27,242 shares of the company's stock worth $1,070,000 after purchasing an additional 287 shares during the last quarter. Commonwealth Equity Services LLC raised its position in APi Group by 0.3% in the second quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company's stock worth $4,091,000 after acquiring an additional 323 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of APi Group by 4.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company's stock worth $278,000 after purchasing an additional 333 shares in the last quarter. J.Safra Asset Management Corp boosted its position in shares of APi Group by 21.5% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company's stock worth $79,000 after purchasing an additional 373 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of APi Group by 2.1% during the 2nd quarter. AQR Capital Management LLC now owns 20,059 shares of the company's stock worth $755,000 after purchasing an additional 406 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

Insiders Place Their Bets

In related news, Director James E. Lillie sold 11,568 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the transaction, the director now directly owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 53,868 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the transaction, the director now owns 5,478,779 shares in the company, valued at $202,002,581.73. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by corporate insiders.

APi Group Price Performance

APG stock traded up $1.24 on Monday, reaching $38.25. The company had a trading volume of 2,055,154 shares, compared to its average volume of 1,712,454. The company's fifty day moving average is $34.46 and its 200 day moving average is $35.52. The company has a market cap of $10.51 billion, a P/E ratio of -19.42 and a beta of 1.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51. APi Group Co. has a 1 year low of $29.75 and a 1 year high of $39.98.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The business's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. On average, research analysts forecast that APi Group Co. will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on APG. JPMorgan Chase & Co. decreased their price objective on shares of APi Group from $37.00 to $34.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Robert W. Baird decreased their price target on APi Group from $43.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $45.00 price objective on shares of APi Group in a research note on Friday, November 1st. Finally, Barclays boosted their target price on APi Group from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

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.