57,700 Shares in APi Group Corporation $APG Bought by State of Michigan Retirement System

The State of Michigan Retirement System acquired 57,700 shares of APi Group Corporation (NYSE:APG) valued at approximately $2.95 million in Q2, as per its recent SEC filing. Other institutional investors also adjusted their positions in APi Group. The stock opened at $36.38, with a market cap of $15.13 billion and a P/E ratio of 99.22. APi Group reported Q3 earnings of $0.41 per share, exceeding estimates, with revenue of $2.09 billion, up 14.2% year-over-year. Insider sales totaled 2.68 million shares in the last 90 days, with analysts giving mixed ratings on the stock.

State of Michigan Retirement System bought a new position in shares of APi Group Corporation (NYSE:APG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 57,700 shares of the company's stock, valued at approximately $2,946,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of APi Group during the 1st quarter worth about $38,000. Ulland Investment Advisors LLC increased its position in APi Group by 41.5% in the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company's stock worth $77,000 after buying an additional 440 shares during the period. GAMMA Investing LLC increased its position in APi Group by 105.5% in the 1st quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock worth $55,000 after buying an additional 785 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of APi Group during the second quarter worth approximately $98,000. Finally, Vista Finance LLC bought a new stake in shares of APi Group in the second quarter valued at approximately $205,000. 86.62% of the stock is owned by institutional investors and hedge funds.

APi Group Trading Up 2.7%

Shares of APG stock opened at $36.38 on Thursday. The firm has a fifty day moving average of $34.88 and a 200-day moving average of $33.22. The stock has a market cap of $15.13 billion, a price-to-earnings ratio of 99.22 and a beta of 1.64. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $37.04. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm's revenue was up 14.2% on a year-over-year basis. APi Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In other APi Group news, Director Ian G. H. Ashken sold 205,550 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $35.24, for a total value of $7,243,582.00. Following the sale, the director directly owned 7,968,167 shares in the company, valued at $280,798,205.08. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the transaction, the director owned 18,968,790 shares of the company's stock, valued at $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,685,000 shares of company stock worth $94,433,327. Company insiders own 17.00% of the company's stock.

Analyst Ratings Changes

APG has been the topic of a number of research reports. Zacks Research lowered shares of APi Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Barclays upped their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup increased their target price on shares of APi Group from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of APi Group in a research note on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.52.

Check Out Our Latest Stock Analysis on APG

About APi Group

(Free Report)

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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