Allianz Asset Management GmbH Acquires 150,702 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Allianz Asset Management GmbH raised its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 58.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 409,437 shares of the company's stock after purchasing an additional 150,702 shares during the quarter. Allianz Asset Management GmbH owned 1.10% of Adtalem Global Education worth $41,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Adtalem Global Education by 56.8% during the first quarter. Fifth Third Bancorp now owns 287 shares of the company's stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Adtalem Global Education during the first quarter valued at $31,000. Sterling Capital Management LLC grew its position in Adtalem Global Education by 774.8% in the 4th quarter. Sterling Capital Management LLC now owns 971 shares of the company's stock worth $88,000 after purchasing an additional 860 shares during the last quarter. USA Financial Formulas boosted its position in Adtalem Global Education by 214.9% during the 1st quarter. USA Financial Formulas now owns 888 shares of the company's stock worth $89,000 after acquiring an additional 606 shares during the period. Finally, Federated Hermes Inc. grew its position in Adtalem Global Education by 18.2% in the 4th quarter. Federated Hermes Inc. now owns 1,497 shares of the company's stock valued at $136,000 after buying an additional 231 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Adtalem Global Education news, Director William W. Burke sold 2,291 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the sale, the director owned 9,368 shares of the company's stock, valued at approximately $1,202,382.80. This represents a 19.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Adtalem Global Education Stock Up 1.0%

ATGE traded up $1.20 during trading hours on Friday, hitting $115.50. 173,782 shares of the company's stock were exchanged, compared to its average volume of 477,151. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.02 and a beta of 0.90. Adtalem Global Education Inc. has a 1-year low of $67.30 and a 1-year high of $140.12. The stock's 50-day moving average is $124.16 and its two-hundred day moving average is $110.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.39.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.29. The company had revenue of $466.06 million during the quarter, compared to analysts' expectations of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. Adtalem Global Education's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. Sell-side analysts predict that Adtalem Global Education Inc. will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education announced that its board has initiated a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. 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 target price for the company. Finally, Barrington Research upped 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, May 9th.

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.