State of Alaska Department of Revenue Acquires New Holdings in APi Group Corporation $APG

Key Points

• The State of Alaska Department of Revenue acquired a new position in APi Group Corporation, purchasing 25,000 shares valued at approximately $1.3 million in the second quarter.
• A number of institutional investors, including Price T Rowe Associates and Durable Capital Partners, significantly increased their stakes in APi Group during the first quarter, highlighting strong interest in the company.
• APi Group's recent performance shows promising results, with a 15% year-over-year revenue increase and reported earnings per share (EPS) of $0.39, exceeding analysts' expectations.

State of Alaska Department of Revenue acquired a new position in APi Group Corporation (NYSE:APG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,000 shares of the company's stock, valued at approximately $1,276,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of APi Group by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock worth $581,073,000 after purchasing an additional 621,761 shares in the last quarter. Durable Capital Partners LP increased its stake in shares of APi Group by 78.0% in the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock worth $318,663,000 after purchasing an additional 3,903,632 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of APi Group by 75.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock worth $241,997,000 after purchasing an additional 2,906,783 shares in the last quarter. Findlay Park Partners LLP increased its stake in shares of APi Group by 1.4% in the first quarter. Findlay Park Partners LLP now owns 6,445,948 shares of the company's stock worth $230,507,000 after purchasing an additional 86,600 shares in the last quarter. Finally, Select Equity Group L.P. increased its stake in shares of APi Group by 36.9% in the first quarter. Select Equity Group L.P. now owns 4,521,352 shares of the company's stock worth $161,684,000 after purchasing an additional 1,217,554 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 190,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was 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 of the company's stock, valued at approximately $259,615,362.88. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James Arseniadis sold 4,843 shares of APi Group stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.38, for a total transaction of $171,345.34. Following the sale, the chief accounting officer owned 12,116 shares of the company's stock, valued at $428,664.08. The trade was a 28.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,789,843 shares of company stock worth $62,262,672. Corporate insiders own 17.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on APG shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of APi Group in a research note on Saturday, September 27th. Barclays reaffirmed an "overweight" rating and set a $42.00 target price (up from $40.00) on shares of APi Group in a research note on Monday, August 4th. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Zacks Research cut shares of APi Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $34.67 target price on shares of APi Group in a research note on Friday, June 27th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, APi Group currently has a consensus rating of "Moderate Buy" and an average target price of $36.10.

APi Group Stock Up 0.5%

Shares of NYSE APG opened at $34.61 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 company has a market cap of $14.39 billion, a P/E ratio of 108.14 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. The firm has a 50-day simple moving average of $35.07 and a two-hundred day simple moving average of $31.34.

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

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.

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