Allspring Global Investments Holdings LLC Cuts Position in APi Group Corporation $APG

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in APi Group Corporation by 45.5%, owning 3,421,432 shares valued at $174.66 million after selling 2,851,406 shares in Q2.
• Several institutional investors, including Signaturefd LLC and Amalgamated Bank, have increased their holdings in APi Group, reflecting ongoing interest in the stock.
• Barclays and JPMorgan Chase & Co. have rated APi Group as "overweight" with an increased target price of $42.00, indicating positive sentiment from analysts.

Allspring Global Investments Holdings LLC lessened its stake in APi Group Corporation (NYSE:APG - Free Report) by 45.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,421,432 shares of the company's stock after selling 2,851,406 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.82% of APi Group worth $174,664,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Signaturefd LLC increased its holdings in APi Group by 6.7% during the 1st quarter. Signaturefd LLC now owns 4,067 shares of the company's stock valued at $145,000 after acquiring an additional 256 shares in the last quarter. Amalgamated Bank increased its holdings in APi Group by 2.3% during the 1st quarter. Amalgamated Bank now owns 12,253 shares of the company's stock valued at $438,000 after acquiring an additional 279 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in APi Group by 5.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company's stock valued at $194,000 after acquiring an additional 303 shares in the last quarter. Cresset Asset Management LLC increased its holdings in APi Group by 3.6% during the 1st quarter. Cresset Asset Management LLC now owns 10,693 shares of the company's stock valued at $382,000 after acquiring an additional 374 shares in the last quarter. Finally, State of Wyoming increased its holdings in APi Group by 10.7% during the 1st quarter. State of Wyoming now owns 4,106 shares of the company's stock valued at $147,000 after acquiring an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays restated an "overweight" rating and set a $42.00 target price (up from $40.00) on shares of APi Group in a report on Monday, August 4th. JPMorgan Chase & Co. raised shares of APi Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $31.00 to $42.00 in a research report on Tuesday, July 15th. Zacks Research lowered shares of APi Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of APi Group in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.10.

APi Group Price Performance

APG opened at $34.04 on Monday. The company's 50 day simple moving average is $35.05 and its 200 day simple moving average is $31.72. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.45. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $36.55. The stock has a market capitalization of $14.16 billion, a PE ratio of 106.38 and a beta of 1.62.

APi Group (NYSE:APG - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. APi Group had a net margin of 3.35% and a return on equity of 21.33%. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the company earned $0.49 earnings per share. The company's quarterly 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. As a group, sell-side analysts expect that APi Group Corporation will post 1.83 EPS for the current year.

Insider Activity at APi Group

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

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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