Price T Rowe Associates Inc. MD Purchases 621,761 Shares of APi Group Corporation $APG

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in APi Group by 4.0%, owning approximately 16.25 million shares valued at $581 million as of its latest SEC filing.
• APi Group reported a 15% revenue growth year-over-year, with a quarterly revenue of $1.99 billion, exceeding analysts' expectations of $1.88 billion.
• Several analysts have given APi Group stocks a consensus "Buy" rating, with target prices ranging from $34.00 to $42.00, reflecting positive investor sentiment.

Price T Rowe Associates Inc. MD grew its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,249,205 shares of the company's stock after acquiring an additional 621,761 shares during the quarter. Price T Rowe Associates Inc. MD owned about 5.87% of APi Group worth $581,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in APG. Janus Henderson Group PLC increased its position in APi Group by 19.2% during the fourth quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock valued at $359,811,000 after acquiring an additional 1,611,744 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of APi Group by 75.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock valued at $241,997,000 after buying an additional 2,906,783 shares in the last quarter. Durable Capital Partners LP lifted its position in shares of APi Group by 199.8% during the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company's stock valued at $180,121,000 after buying an additional 3,337,468 shares in the last quarter. Permian Investment Partners LP lifted its holdings in APi Group by 51.7% in the 4th quarter. Permian Investment Partners LP now owns 3,050,622 shares of the company's stock worth $109,731,000 after purchasing an additional 1,040,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of APi Group by 479,614.2% in the first quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company's stock worth $102,929,000 after buying an additional 2,877,685 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

Insider Activity

In other news, Director James E. Lillie sold 95,000 shares of the business'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 completion of the sale, the director owned 7,348,101 shares in the company, valued at approximately $258,873,598.23. The trade was a 1.28% decrease in their position. The transaction 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 business'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 of the company's stock, valued at approximately $280,798,205.08. This represents a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 589,843 shares of company stock worth $20,694,672. 17.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APG has been the topic of several research analyst reports. UBS Group boosted their target price on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and set a $42.00 price objective (up from $40.00) on shares of APi Group in a research note on Monday, August 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $34.67 price objective on shares of APi Group in a research note on Friday, June 27th. Robert W. Baird raised their price objective on shares of APi Group from $31.33 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, APi Group has an average rating of "Buy" and an average price target of $36.10.

APi Group Stock Up 0.5%

Shares of NYSE:APG traded up $0.17 during trading hours on Wednesday, hitting $36.40. The company's stock had a trading volume of 2,571,137 shares, compared to its average volume of 3,049,755. APi Group Corporation has a 52 week low of $20.50 and a 52 week 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 $15.14 billion, a price-to-earnings ratio of 113.74 and a beta of 1.56. The firm's fifty day moving average price is $34.64 and its 200 day moving average price is $29.46.

APi Group (NYSE:APG - Get Free Report) last posted 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. APi Group had a net margin of 3.35% and a return on equity of 21.33%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The company's quarterly revenue was up 15.0% compared to the same quarter last year. APi Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts expect that APi Group Corporation will post 1.83 EPS for the current 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.