Penserra Capital Management LLC Purchases New Shares in APi Group Corporation $APG

Penserra Capital Management LLC purchased a new position in APi Group Corporation (NYSE:APG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,861 shares of the company’s stock, valued at approximately $197,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. increased its stake in shares of APi Group by 98.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 47,522 shares of the company’s stock worth $2,426,000 after purchasing an additional 23,562 shares in the last quarter. Ellevest Inc. acquired a new stake in APi Group in the 2nd quarter worth about $289,000. Simplex Trading LLC acquired a new stake in APi Group in the 2nd quarter worth about $207,000. Bank of New York Mellon Corp increased its stake in APi Group by 99.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,417,520 shares of the company’s stock worth $72,364,000 after buying an additional 705,089 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new position in shares of APi Group during the second quarter valued at approximately $377,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at APi Group

In related news, Director Martin E. Franklin sold 340,000 shares of the company’s stock in a transaction that occurred 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 directly owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 2,100,000 shares of company stock worth $73,910,000. 17.00% of the stock is currently owned by insiders.

APi Group Trading Down 2.1%

Shares of APG stock opened at $37.55 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $38.58. The company’s 50-day moving average price is $35.11 and its 200-day moving average price is $33.71. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 102.40 and a beta of 1.64.

APi Group (NYSE:APG) last issued its earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. APi Group’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. APi Group has set its FY 2025 guidance at EPS. As a group, equities analysts predict that APi Group Corporation will post 1.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APG shares. Zacks Research lowered APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of APi Group in a research note on Thursday, October 30th. Barclays upped 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. Finally, Citigroup raised their price target on shares of APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus target price of $38.52.

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.