APi Group Corporation $APG Shares Purchased by T. Rowe Price Investment Management Inc.

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 shares of APi Group Corporation (NYSE:APG - Free Report) by 75.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,767,246 shares of the company's stock after purchasing an additional 2,906,783 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.44% of APi Group worth $241,997,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in APi Group by 105.5% during the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock worth $55,000 after purchasing an additional 785 shares in the last quarter. Versant Capital Management Inc raised its holdings in APi Group by 339.0% during the first quarter. Versant Capital Management Inc now owns 1,633 shares of the company's stock worth $58,000 after purchasing an additional 1,261 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in APi Group by 40.5% during the first quarter. First Horizon Advisors Inc. now owns 1,672 shares of the company's stock worth $60,000 after purchasing an additional 482 shares in the last quarter. Signaturefd LLC raised its holdings in APi Group by 6.7% during the first quarter. Signaturefd LLC now owns 4,067 shares of the company's stock worth $145,000 after purchasing an additional 256 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in APi Group by 1,341.9% during the first quarter. Farther Finance Advisors LLC now owns 5,162 shares of the company's stock worth $185,000 after purchasing an additional 4,804 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on APG. Royal Bank Of Canada reissued an "outperform" rating and set a $34.6667 price target on shares of APi Group in a report on Friday, June 27th. Robert W. Baird increased their price target on shares of APi Group from $31.3333 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. UBS Group increased their target price on shares of APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised shares of APi Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $31.00 to $42.00 in a report on Tuesday, July 15th. Finally, Truist Financial increased their target price on shares of APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, APi Group presently has a consensus rating of "Buy" and an average target price of $36.10.

Insider Activity

In other news, CAO James Arseniadis sold 4,843 shares of the 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 in the company, valued at $428,664.08. This represents a 28.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Lillie sold 95,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $35.23, for a total transaction of $3,346,850.00. Following the completion of the sale, the director owned 7,348,101 shares in the company, valued at $258,873,598.23. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 589,843 shares of company stock worth $20,694,672 over the last ninety days. 17.00% of the stock is currently owned by insiders.

APi Group Price Performance

APi Group stock traded up $0.31 during mid-day trading on Friday, reaching $35.75. The company had a trading volume of 2,474,773 shares, compared to its average volume of 2,859,027. APi Group Corporation has a 1 year low of $20.50 and a 1 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 company has a market capitalization of $14.87 billion, a P/E ratio of 111.72 and a beta of 1.56. The stock's 50-day simple moving average is $34.50 and its 200-day simple moving average is $29.31.

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

APi Group 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.