Bridges Investment Management Inc. Raises Stake in APi Group Corporation $APG

by · The Markets Daily

Bridges Investment Management Inc. lifted its position in shares of APi Group Corporation (NYSE:APG – Free Report) by 15.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 70,610 shares of the company’s stock after buying an additional 9,435 shares during the period. Bridges Investment Management Inc.’s holdings in APi Group were worth $3,605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of APG. SVB Wealth LLC acquired a new position in APi Group in the 1st quarter valued at $38,000. GAMMA Investing LLC grew its position in shares of APi Group by 105.5% in the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company’s stock valued at $55,000 after purchasing an additional 785 shares during the period. First Horizon Advisors Inc. increased its stake in APi Group by 40.5% in the first quarter. First Horizon Advisors Inc. now owns 1,672 shares of the company’s stock valued at $60,000 after purchasing an additional 482 shares during the last quarter. Ulland Investment Advisors LLC lifted its position in APi Group by 41.5% during the second 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. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in APi Group during the second quarter worth about $98,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on APG shares. 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 lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.67 price target on shares of APi Group in a research note on Friday, June 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research note on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating and set a $42.00 price objective (up from $40.00) on shares of APi Group in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.10.

View Our Latest Analysis on APG

Insider Buying and Selling

In other news, Director Martin E. Franklin sold 1,200,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.64, for a total value of $41,568,000.00. Following the completion of the sale, the director owned 19,868,790 shares in the company, valued at approximately $688,254,885.60. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James Arseniadis sold 4,843 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.38, for a total value of $171,345.34. Following the transaction, the chief accounting officer directly owned 12,116 shares in the company, valued at $428,664.08. This trade represents a 28.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,789,843 shares of company stock worth $62,262,672 over the last three months. 17.00% of the stock is currently owned by corporate insiders.

APi Group Price Performance

APi Group stock opened at $34.55 on Thursday. The firm has a fifty day moving average of $35.03 and a 200-day moving average of $31.84. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $36.55. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $14.37 billion, a P/E ratio of 107.97 and a beta of 1.62.

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

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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