APi Group Corporation $APG Shares Acquired by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System significantly increased its stake in APi Group Corporation by 627.6%, owning 151,402 shares valued at approximately $7.7 million.
• APi Group reported a 15% year-over-year revenue increase for its latest quarter, with earnings per share (EPS) of $0.39, exceeding analysts' expectations of $0.37.
• Several analysts have revised their ratings on APi Group, with Barclays maintaining an "overweight" rating and setting a target price of $42.00 for the stock.

New York State Teachers Retirement System increased its stake in APi Group Corporation (NYSE:APG - Free Report) by 627.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,402 shares of the company's stock after acquiring an additional 130,595 shares during the period. New York State Teachers Retirement System's holdings in APi Group were worth $7,729,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC increased its holdings in APi Group by 6.7% in the first quarter. Signaturefd LLC now owns 4,067 shares of the company's stock valued at $145,000 after buying an additional 256 shares during the last quarter. Amalgamated Bank increased its holdings in APi Group by 2.3% in the first quarter. Amalgamated Bank now owns 12,253 shares of the company's stock valued at $438,000 after buying an additional 279 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in APi Group by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company's stock valued at $194,000 after buying an additional 303 shares during the last quarter. Cresset Asset Management LLC increased its holdings in APi Group by 3.6% in the first quarter. Cresset Asset Management LLC now owns 10,693 shares of the company's stock valued at $382,000 after buying an additional 374 shares during the last quarter. Finally, State of Wyoming increased its holdings in APi Group by 10.7% in the first quarter. State of Wyoming now owns 4,106 shares of the company's stock valued at $147,000 after buying an additional 397 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Performance

NYSE APG opened at $34.30 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.87. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $36.55. The business's 50-day moving average price is $35.02 and its 200 day moving average price is $32.10. The firm has a market cap of $14.26 billion, a P/E ratio of 107.18 and a beta of 1.62.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. APi Group had a return on equity of 21.33% and a net margin of 3.35%.The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company posted $0.49 earnings per share. 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. On average, equities research analysts expect that APi Group Corporation will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 205,550 shares of the firm's stock in a transaction dated 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 transaction, the director owned 7,968,167 shares of the company's stock, valued at $280,798,205.08. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO James Arseniadis sold 4,843 shares of the firm's stock in a transaction dated 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 directly owned 12,116 shares in the company, valued at approximately $428,664.08. This represents a 28.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,789,843 shares of company stock worth $62,262,672. Corporate insiders own 17.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.