Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 14.49MM shares of APi Group Corp (APG). This represents 6.2% of the company.
In their previous filing dated February 3, 2022 they reported 13.52MM shares and 6.00% of the company, an increase in shares of 7.22% and an increase in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 3.96% Upside
As of January 31, 2023, the average one-year price target for APi Group is $23.12. The forecasts range from a low of $17.17 to a high of $27.30. The average price target represents an increase of 3.96% from its latest reported closing price of $22.24.
The projected annual revenue for APi Group is $6,768MM, an increase of 13.42%. The projected annual EPS is $1.49.
Fund Sentiment
There are 434 funds or institutions reporting positions in APi Group. This is an increase of 1 owner(s) or 0.23%.
Average portfolio weight of all funds dedicated to US:APG is 0.4467%, an increase of 0.1097%. Total shares owned by institutions increased in the last three months by 0.41% to 198,144K shares.
What are large shareholders doing?
Viking Global Investors holds 33,819,567 shares representing 14.22% ownership of the company. In it's prior filing, the firm reported owning 33,634,813 shares, representing an increase of 0.55%. The firm decreased its portfolio allocation in APG by 10.03% over the last quarter.
Allspring Global Investments Holdings holds 10,698,983 shares representing 4.50% ownership of the company. In it's prior filing, the firm reported owning 10,103,986 shares, representing an increase of 5.56%. The firm decreased its portfolio allocation in APG by 38.38% over the last quarter.
FIL holds 6,831,287 shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 7,831,287 shares, representing a decrease of 14.64%. The firm decreased its portfolio allocation in APG by 16.43% over the last quarter.
Clearbridge Investments holds 6,454,660 shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 6,450,611 shares, representing an increase of 0.06%. The firm decreased its portfolio allocation in APG by 4.03% over the last quarter.
Permian Investment Partners holds 6,113,652 shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 5,888,652 shares, representing an increase of 3.68%. The firm increased its portfolio allocation in APG by 1.86% over the last quarter.
APi Group Background Information
(This description is provided by the company.)
APi is a market-leading business services provider of safety, specialty and industrial services in over 200 locations, primarily in North America. APi provides statutorily mandated services to a strong base of long-standing customers across industries.The Company has a winning leadership culture driven by entrepreneurial business leaders to deliver innovative solutions for its customers.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
