ProShare Advisors LLC Makes New Investment in APi Group Corporation $APG

ProShare Advisors LLC bought a new stake in shares of APi Group Corporation (NYSE:APG) during the 2nd quarter, Holdings Channel reports. The fund bought 10,801 shares of the company’s stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APG. Bridges Investment Management Inc. raised its holdings in APi Group by 15.4% in 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 in the last quarter. Rathbones Group PLC purchased a new position in shares of APi Group during the second quarter valued at about $2,094,000. Capital Investment Services of America Inc. increased its position in shares of APi Group by 5.4% during the second quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock valued at $20,283,000 after buying an additional 20,337 shares during the period. Equitable Trust Co. raised its stake in APi Group by 60.5% in the second quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock worth $1,710,000 after buying an additional 12,630 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in APi Group by 11.1% in the second quarter. Allianz Asset Management GmbH now owns 228,656 shares of the company’s stock worth $11,673,000 after buying an additional 22,832 shares during the period. Institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

APG has been the topic of a number of research analyst reports. Citigroup upped their target price on APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Barclays upped their price target on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Zacks Research lowered APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of APi Group in a research report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.52.

Insider Buying and Selling at APi Group

In related news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director directly owned 18,968,790 shares in the company, valued at $684,583,631.10. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 2,100,000 shares of company stock worth $73,910,000 over the last ninety days. 17.00% of the stock is owned by company insiders.

APi Group Price Performance

APG opened at $37.41 on Thursday. The firm has a market cap of $15.56 billion, a PE ratio of 102.03 and a beta of 1.64. The stock has a 50-day moving average price of $35.29 and a 200-day moving average price of $34.08. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $38.58. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. APi Group’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. APi Group has set its FY 2025 guidance at EPS. Sell-side analysts predict that APi Group Corporation will post 1.83 earnings per share for the current fiscal 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.