Searle & CO. Cuts Position in APi Group Corporation $APG

Searle & CO. trimmed its holdings in APi Group Corporation (NYSE:APG) by 4.9% during the second quarter, HoldingsChannel.com reports. The fund owned 58,166 shares of the company’s stock after selling 3,000 shares during the period. Searle & CO.’s holdings in APi Group were worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in APi Group during the first quarter worth $38,000. Ulland Investment Advisors LLC increased its position in APi Group by 41.5% during the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $77,000 after purchasing an additional 440 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of APi Group during the second quarter worth about $98,000. Penserra Capital Management LLC acquired a new position in shares of APi Group during the second quarter worth $197,000. Finally, Vista Finance LLC purchased a new stake in shares of APi Group during the second quarter worth about $205,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Activity

In other news, Director James E. Lillie sold 190,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $34.88, for a total transaction of $6,627,200.00. Following the transaction, the director directly owned 7,443,101 shares in the company, valued at $259,615,362.88. The trade was a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin E. Franklin sold 1,200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $34.64, for a total value of $41,568,000.00. Following the completion of the transaction, the director directly owned 19,868,790 shares in the company, valued at $688,254,885.60. The trade was a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,685,000 shares of company stock valued at $94,433,327 in the last quarter. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APG. Barclays increased their target price on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upgraded shares of APi Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $42.00 in a report on Tuesday, July 15th. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Citigroup lifted 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 reiterated a “hold (c)” rating on shares of APi Group in a research note on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, APi Group has an average rating of “Moderate Buy” and a consensus price target of $38.52.

APi Group Price Performance

APG opened at $36.19 on Friday. The stock has a market capitalization of $15.05 billion, a P/E ratio of 98.70 and a beta of 1.64. APi Group Corporation has a one year low of $20.50 and a one year high of $37.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The company’s 50 day simple moving average is $34.89 and its 200-day simple moving average is $33.40.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. APi Group has set its FY 2025 guidance at EPS. Sell-side analysts anticipate 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.