Amundi Purchases New Position in APi Group Corporation $APG

Key Points

• Amundi has made a significant investment in APi Group Corporation, acquiring 316,520 shares valued at approximately $10.73 million, representing about 0.11% of the company.
• Several large investors have recently increased their positions in APi Group, with hedge funds and institutional investors currently owning 86.62% of the stock.
• Wall Street analysts show a positive sentiment towards APi Group, with upgrades leading to a consensus rating of "Buy" and a target price of $36.10 per share.

Amundi purchased a new position in APi Group Corporation (NYSE:APG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 316,520 shares of the company's stock, valued at approximately $10,733,000. Amundi owned approximately 0.11% of APi Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in APi Group by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock worth $581,073,000 after acquiring an additional 621,761 shares in the last quarter. Durable Capital Partners LP raised its position in APi Group by 78.0% in the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock worth $318,663,000 after acquiring an additional 3,903,632 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in APi Group by 75.3% in the first 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 in the last quarter. Findlay Park Partners LLP raised its position in APi Group by 1.4% in the first quarter. Findlay Park Partners LLP now owns 6,445,948 shares of the company's stock worth $230,507,000 after acquiring an additional 86,600 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in APi Group by 479,614.2% in the 1st quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company's stock worth $102,929,000 after purchasing an additional 2,877,685 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APG. JPMorgan Chase & Co. raised APi Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $31.00 to $42.00 in a research note on Tuesday, July 15th. UBS Group lifted their price target on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $34.67 price target on shares of APi Group in a research note on Friday, June 27th. Wall Street Zen raised APi Group from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Truist Financial lifted their price target on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.10.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 1,200,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.64, for a total value of $41,568,000.00. Following the completion of the sale, the director owned 19,868,790 shares of the company's stock, valued at approximately $688,254,885.60. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ian G. H. Ashken sold 205,550 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $35.24, for a total value of $7,243,582.00. Following the completion of the sale, the director directly owned 7,968,167 shares of the company's stock, valued at approximately $280,798,205.08. The trade was a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,789,843 shares of company stock worth $62,262,672. Insiders own 17.00% of the company's stock.

APi Group Stock Up 1.2%

NYSE:APG traded up $0.41 on Monday, hitting $35.29. 1,975,064 shares of the company's stock traded hands, compared to its average volume of 2,456,117. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $36.55. The firm has a 50-day moving average price of $35.08 and a 200-day moving average price of $30.40. The company has a market cap of $14.68 billion, a PE ratio of 110.30 and a beta of 1.61.

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

APi Group Company 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.