Ethic Inc. Increases Stock Position in APi Group Corporation $APG

Key Points

• Ethic Inc. increased its stake in APi Group Corporation by 33.4%, holding 40,951 shares valued at over $2 million as of its latest SEC filing.
• Multiple institutional investors, including UBS AM and New York State Teachers Retirement System, have significantly boosted their positions in APi Group, with hedge funds now owning 86.62% of the stock.
• Analysts have a mixed outlook on APi Group, with eight giving it a "Buy" rating and a consensus average price target of $36.10, while Zacks Research downgraded the stock to a "hold" rating.

Ethic Inc. grew its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 33.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,951 shares of the company's stock after buying an additional 10,253 shares during the period. Ethic Inc.'s holdings in APi Group were worth $2,083,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. boosted its position in APi Group by 15.4% during the 2nd quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company's stock worth $3,605,000 after purchasing an additional 9,435 shares during the period. Equitable Trust Co. boosted its position in APi Group by 60.5% during the 2nd quarter. Equitable Trust Co. now owns 33,500 shares of the company's stock worth $1,710,000 after purchasing an additional 12,630 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in APi Group by 114.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,802,773 shares of the company's stock worth $100,227,000 after purchasing an additional 1,495,268 shares during the period. Allianz Asset Management GmbH boosted its position in APi Group by 11.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 228,656 shares of the company's stock worth $11,673,000 after purchasing an additional 22,832 shares during the period. Finally, New York State Teachers Retirement System boosted its position in APi Group by 627.6% during the 2nd quarter. New York State Teachers Retirement System now owns 151,402 shares of the company's stock worth $7,729,000 after purchasing an additional 130,595 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on APG shares. Zacks Research cut shares of APi Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Barclays reaffirmed an "overweight" rating and set a $42.00 price target (up from $40.00) on shares of APi Group in a research report on Monday, August 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of APi Group in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $34.67 price objective on shares of APi Group in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised shares of APi Group from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $31.00 to $42.00 in a research report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, APi Group has a consensus rating of "Moderate Buy" and an average target price of $36.10.

APi Group Stock Performance

NYSE:APG opened at $34.79 on Friday. 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 firm has a 50-day moving average of $34.94 and a two-hundred day moving average of $32.41. The stock has a market cap of $14.47 billion, a P/E ratio of 108.73 and a beta of 1.62. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $36.55.

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

Insider Activity at APi Group

In other news, Director James E. Lillie sold 95,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $35.23, for a total value of $3,346,850.00. Following the sale, the director owned 7,348,101 shares in the company, valued at approximately $258,873,598.23. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ian G. H. Ashken sold 205,550 shares of the company's 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 completion of the sale, the director owned 7,968,167 shares in the company, valued at approximately $280,798,205.08. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,789,843 shares of company stock worth $62,262,672. Company insiders own 17.00% of the company's stock.

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.

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