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

by · The Cerbat Gem

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

APi Group Trading Up 0.2%

APG opened at $50.33 on Friday. APi Group has a 12 month low of $30.76 and a 12 month high of $51.95. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 109.41 and a beta of 1.58. 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 business has a fifty day moving average price of $44.85 and a 200 day moving average price of $39.69.

APi Group (NYSE:APG – Get Free Report) last issued its earnings results 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. APi Group had a net margin of 3.36% and a return on equity of 20.99%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect that APi Group will post 1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on APG. Royal Bank Of Canada set a $52.00 target price on APi Group in a report on Thursday, May 22nd. Truist Financial increased their price objective on APi Group from $48.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Robert W. Baird raised their target price on APi Group from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. UBS Group upped their price target on APi Group from $48.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Finally, Citigroup dropped their price target 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 investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.57.

Read Our Latest Analysis on APG

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the sale, the director now owns 5,612,102 shares in the company, valued at $239,748,997.44. This represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APG. Capital Research Global Investors boosted its stake in shares of APi Group by 118.2% during the fourth quarter. Capital Research Global Investors now owns 10,947,284 shares of the company’s stock worth $393,774,000 after buying an additional 5,931,314 shares during the period. Durable Capital Partners LP raised its stake in APi Group by 78.0% during the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company’s stock valued at $318,663,000 after acquiring an additional 3,903,632 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in APi Group during the 4th quarter valued at approximately $125,407,000. T. Rowe Price Investment Management Inc. lifted its position in APi Group by 75.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company’s stock worth $241,997,000 after acquiring an additional 2,906,783 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of APi Group by 479,614.2% in the 1st quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company’s stock valued at $102,929,000 after purchasing an additional 2,877,685 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

About APi Group

(Get Free Report)

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.

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