T. Rowe Price Investment Management Inc. Grows Stock Holdings in APi Group Corporation $APG

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its holdings in APi Group by 75.3%, owning 6,767,246 shares worth approximately $242 million after acquiring an additional 2.9 million shares.
• Several institutional investors, including Durable Capital Partners LP, have markedly increased their stakes in APi Group, highlighting strong interest in the company from hedge funds which own 86.62% of the stock.
• Research firms have given positive ratings on APi Group, with multiple upgrades and a consensus average target price of $36.10, reflecting optimistic market sentiment.

T. Rowe Price Investment Management Inc. increased its position in APi Group Corporation (NYSE:APG - Free Report) by 75.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,767,246 shares of the company's stock after buying an additional 2,906,783 shares during the period. T. Rowe Price Investment Management Inc. owned 2.44% of APi Group worth $241,997,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of APi Group during the 4th quarter worth approximately $7,427,000. CANADA LIFE ASSURANCE Co increased its position in APi Group by 3.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 59,931 shares of the company's stock worth $2,154,000 after purchasing an additional 2,055 shares during the last quarter. Forum Financial Management LP purchased a new stake in APi Group during the fourth quarter valued at $210,000. Dimensional Fund Advisors LP lifted its position in APi Group by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,631,047 shares of the company's stock valued at $94,640,000 after purchasing an additional 177,947 shares during the last quarter. Finally, Natixis purchased a new position in shares of APi Group in the 4th quarter worth $536,000. Hedge funds and other institutional investors own 86.62% of the company's stock.

Analysts Set New Price Targets

APG has been the topic of several recent research reports. Robert W. Baird upped their target price on shares of APi Group from $31.33 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. upgraded APi Group from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $31.00 to $42.00 in a report on Tuesday, July 15th. UBS Group boosted their target price on APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Truist Financial raised their price target on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $36.10.

APi Group Trading Up 0.9%

APi Group stock traded up $0.34 during mid-day trading on Tuesday, hitting $36.30. The company's stock had a trading volume of 367,794 shares, compared to its average volume of 3,038,142. The stock has a market cap of $15.10 billion, a PE ratio of 113.26 and a beta of 1.56. APi Group Corporation has a one year low of $20.50 and a one year high of $36.55. The company has a 50 day moving average of $34.57 and a 200-day moving average of $29.41. 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 (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the previous year, the company earned $0.49 EPS. The firm'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. On average, research analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

Insider Transactions at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 205,550 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $35.24, for a total transaction of $7,243,582.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Lillie sold 190,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $34.88, for a total transaction of $6,627,200.00. Following the transaction, the director owned 7,443,101 shares in the company, valued at approximately $259,615,362.88. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,843 shares of company stock valued at $20,694,672. 17.00% of the stock is currently owned by corporate insiders.

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.