Accurate Wealth Management LLC Makes New Investment in APi Group Corporation $APG

Key Points

• Accurate Wealth Management LLC has invested approximately $389,000 in APi Group Corporation by purchasing 7,619 shares during the second quarter of 2023.
• Despite a slight decline of 0.3% in stock price, APi Group reported stronger-than-expected quarterly earnings, with a net revenue of $1.99 billion and an EPS of $0.39, surpassing analysts' estimates.
• Insider trading activity has increased, with approximately 1,789,843 shares sold by company insiders worth around $62 million in the last three months, indicating potential shifts in ownership distribution.

Accurate Wealth Management LLC purchased a new stake in shares of APi Group Corporation (NYSE:APG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,619 shares of the company's stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new position in APi Group in the 2nd quarter valued at $760,000. Farther Finance Advisors LLC boosted its holdings in APi Group by 34.2% during the second quarter. Farther Finance Advisors LLC now owns 6,927 shares of the company's stock valued at $354,000 after acquiring an additional 1,765 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new stake in APi Group during the second quarter valued at about $98,000. Wealth Enhancement Advisory Services LLC grew its position in shares of APi Group by 75.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,878 shares of the company's stock valued at $1,372,000 after purchasing an additional 11,533 shares during the last quarter. Finally, Longboard Asset Management LP bought a new position in shares of APi Group in the second quarter worth about $230,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Down 0.3%

Shares of APG stock opened at $33.84 on Friday. APi Group Corporation has a one year low of $20.50 and a one year high of $36.55. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.45 and a quick ratio of 1.37. The stock has a fifty day moving average price of $35.11 and a 200 day moving average price of $30.88. The stock has a market cap of $14.07 billion, a P/E ratio of 105.74 and a beta of 1.61.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. APi Group had a net margin of 3.35% and a return on equity of 21.33%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business's revenue was up 15.0% on a year-over-year basis. APi Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts predict that APi Group Corporation will post 1.83 earnings per share for the current year.

Insider Buying and Selling at APi Group

In other news, Director Ian G. H. Ashken sold 205,550 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $35.24, for a total value of $7,243,582.00. Following the completion of the transaction, the director directly owned 7,968,167 shares of the company's stock, valued at approximately $280,798,205.08. This represents a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO James Arseniadis sold 4,843 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.38, for a total value of $171,345.34. Following the transaction, the chief accounting officer owned 12,116 shares of the company's stock, valued at $428,664.08. This trade represents a 28.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,789,843 shares of company stock worth $62,262,672 in the last three months. 17.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research downgraded APi Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Wall Street Zen raised APi Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. raised shares of APi Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $31.00 to $42.00 in a research report on Tuesday, July 15th. Barclays reiterated an "overweight" rating and set a $42.00 target price (up from $40.00) on shares of APi Group in a research note on Monday, August 4th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $34.67 price objective on shares of APi Group in a report on Friday, June 27th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.10.

About APi Group

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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