Allianz Asset Management GmbH Increases Stake in Adtalem Global Education Inc. (NYSE:ATGE)

Allianz Asset Management GmbH increased its holdings in shares of Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 58.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409,437 shares of the company's stock after acquiring an additional 150,702 shares during the period. Allianz Asset Management GmbH owned approximately 1.10% of Adtalem Global Education worth $41,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Adtalem Global Education by 11,723.8% during the 1st quarter. GAMMA Investing LLC now owns 173,101 shares of the company's stock worth $17,421,000 after purchasing an additional 171,637 shares in the last quarter. Neumeier Poma Investment Counsel LLC boosted its holdings in Adtalem Global Education by 59.2% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 405,530 shares of the company's stock worth $36,842,000 after buying an additional 150,835 shares in the last quarter. Westport Asset Management Inc. acquired a new position in Adtalem Global Education during the fourth quarter worth about $11,425,000. Norges Bank acquired a new position in Adtalem Global Education during the fourth quarter worth about $11,157,000. Finally, Balyasny Asset Management L.P. increased its holdings in Adtalem Global Education by 799.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 130,176 shares of the company's stock valued at $11,826,000 after buying an additional 115,699 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Activity

In other news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the transaction, the director owned 9,368 shares of the company's stock, valued at $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ATGE shares. 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 report on Friday, May 9th. BMO Capital Markets upped their target price on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group assumed coverage on Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price target for the company.

Adtalem Global Education Price Performance

Shares of ATGE traded up $0.69 during mid-day trading on Friday, reaching $114.99. 304,833 shares of the company's stock were exchanged, compared to its average volume of 398,714. 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 Inc. has a 52-week low of $67.30 and a 52-week high of $140.12. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.03 and a beta of 0.90. The company has a 50-day simple moving average of $123.77 and a two-hundred day simple moving average of $110.82.

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

Adtalem Global Education declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Adtalem Global Education Company Profile

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.