Public Employees Retirement System of Ohio Buys Shares of 110,762 APi Group Corporation $APG

Key Points

• Public Employees Retirement System of Ohio bought 110,762 shares of APi Group in the second quarter, valued at approximately $4.7 million. Institutional investors and hedge funds collectively own 86.62% of the company.
• APi Group reported quarterly earnings of $0.44 per share, beating estimates by $0.01, while revenue rose 13.3% year over year to $2.25 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $52.57 price target. However, insiders sold 2.667 million shares worth about $110.8 million during the last quarter.

Public Employees Retirement System of Ohio purchased a new position in APi Group Corporation (NYSE:APG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 110,762 shares of the company's stock, valued at approximately $4,691,000.

Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in APi Group during the 4th quarter worth approximately $5,593,000. Northwestern Mutual Wealth Management Co. increased its stake in APi Group by 5,212.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company's stock valued at $15,747,000 after purchasing an additional 403,842 shares in the last quarter. Hantz Financial Services Inc. increased its stake in APi Group by 628.7% in the fourth quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company's stock valued at $6,658,000 after purchasing an additional 150,139 shares in the last quarter. Principal Financial Group Inc. raised its holdings in APi Group by 7.5% in the first quarter. Principal Financial Group Inc. now owns 855,638 shares of the company's stock worth $34,670,000 after purchasing an additional 59,715 shares during the period. Finally, M.D. Sass LLC raised its holdings in APi Group by 3.4% in the fourth quarter. M.D. Sass LLC now owns 2,005,327 shares of the company's stock worth $76,724,000 after purchasing an additional 66,753 shares during the period. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at APi Group

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the sale, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony E. Malkin sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,667,000 shares of company stock worth $110,810,972. 18.70% of the stock is currently owned by insiders.

APi Group Trading Up 0.7%

Shares of NYSE:APG opened at $39.41 on Thursday. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of -58.82, a PEG ratio of 2.28 and a beta of 1.60. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The company's fifty day simple moving average is $41.11 and its 200 day simple moving average is $42.51. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 EPS. As a group, research analysts forecast that APi Group Corporation will post 1.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APG has been the subject of several research analyst reports. Citigroup reissued a "buy" rating and issued a $54.00 price target (up from $53.00) on shares of APi Group in a report on Friday, July 31st. Robert W. Baird set a $47.00 target price on APi Group in a research note on Friday, July 31st. Weiss Ratings downgraded APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. UBS Group set a $52.00 price target on APi Group in a research report on Monday, July 20th. Finally, Wells Fargo & Company initiated coverage on APi Group in a report on Tuesday, August 4th. They set an "overweight" rating and a $53.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, APi Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.57.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.

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