Comerica Bank Has $4.17 Million Stake in Adtalem Global Education Inc. (NYSE:ATGE)

Comerica Bank lifted its stake in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,904 shares of the company's stock after acquiring an additional 5,298 shares during the quarter. Comerica Bank owned 0.12% of Adtalem Global Education worth $4,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in shares of Adtalem Global Education by 1.0% in the 4th quarter. Arizona State Retirement System now owns 10,939 shares of the company's stock valued at $994,000 after purchasing an additional 110 shares during the period. US Bancorp DE increased its stake in Adtalem Global Education by 4.8% in the 4th quarter. US Bancorp DE now owns 3,285 shares of the company's stock valued at $298,000 after buying an additional 151 shares during the period. GAMMA Investing LLC lifted its position in Adtalem Global Education by 13.8% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the company's stock worth $133,000 after buying an additional 177 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Adtalem Global Education by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,922 shares of the company's stock valued at $356,000 after acquiring an additional 194 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Adtalem Global Education by 2.4% during the 4th quarter. Handelsbanken Fonder AB now owns 8,395 shares of the company's stock valued at $763,000 after acquiring an additional 200 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ATGE shares. Barrington Research raised their price target on Adtalem Global Education from $120.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday. StockNews.com cut shares of Adtalem Global Education from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. BMO Capital Markets increased their price target on shares of Adtalem Global Education from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group started coverage on shares of Adtalem Global Education in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price objective for the company.

Insider Transactions at Adtalem Global Education

In related news, Director Donna J. Hrinak sold 4,812 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $103.26, for a total value of $496,887.12. Following the completion of the transaction, the director now directly owns 8,032 shares of the company's stock, valued at $829,384.32. This trade represents a 37.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Adtalem Global Education Stock Performance

Shares of Adtalem Global Education stock traded up $20.40 on Friday, reaching $136.28. The stock had a trading volume of 1,962,597 shares, compared to its average volume of 445,420. The stock has a market cap of $5.08 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. Adtalem Global Education Inc. has a fifty-two week low of $62.28 and a fifty-two week high of $136.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.06. The business's 50-day moving average price is $103.25 and its two-hundred day moving average price is $96.80.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The company had revenue of $466.06 million for the quarter, compared to the consensus estimate of $447.19 million. During the same period last year, the business posted $1.50 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts forecast that Adtalem Global Education Inc. will post 6.2 EPS for the current year.

Adtalem Global Education announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

About Adtalem Global Education

Adtalem Global Education Inc provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment operates Chamberlain University.