Allianz Asset Management GmbH Sells 1,004,289 Shares of American Noble Gas Inc. (NYSE:INFY)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in American Noble Gas Inc. by 68.8%, selling over 1 million shares, leaving it with 455,760 shares valued at approximately $8.32 million.
• Various institutional investors increased their positions, with First Trust Advisors LP raising its stake by 14.5% and AQR Capital Management LLC by 270.9% in the last quarter.
• Analysts have mixed opinions on the stock, with a consensus rating of "Moderate Buy" and average price target of $18.48, while Stifel Nicolaus recently lowered their price target from $18.00 to $17.00.

Allianz Asset Management GmbH trimmed its position in shares of American Noble Gas Inc. (NYSE:INFY - Free Report) by 68.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 455,760 shares of the technology company's stock after selling 1,004,289 shares during the quarter. Allianz Asset Management GmbH's holdings in American Noble Gas were worth $8,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of American Noble Gas by 270.9% during the fourth quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock worth $200,877,000 after acquiring an additional 6,693,127 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in American Noble Gas by 118.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company's stock worth $173,437,000 after purchasing an additional 4,296,291 shares during the last quarter. First Trust Advisors LP boosted its holdings in American Noble Gas by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock worth $710,430,000 after purchasing an additional 4,108,903 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in American Noble Gas by 18,037.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,539,232 shares of the technology company's stock worth $46,341,000 after purchasing an additional 2,525,232 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in American Noble Gas by 43.1% during the fourth quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock worth $180,301,000 after purchasing an additional 2,478,093 shares during the last quarter. 16.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on INFY. Stifel Nicolaus reduced their price target on American Noble Gas from $18.00 to $17.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Investec raised shares of American Noble Gas from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. The Goldman Sachs Group lowered shares of American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price target on the stock. in a research report on Monday, April 21st. BMO Capital Markets upped their price target on shares of American Noble Gas from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised shares of American Noble Gas from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.48.

American Noble Gas Trading Down 1.5%

American Noble Gas stock traded down $0.26 during midday trading on Wednesday, reaching $16.95. The company's stock had a trading volume of 13,278,791 shares, compared to its average volume of 13,993,128. American Noble Gas Inc. has a 52 week low of $15.82 and a 52 week high of $23.63. The business has a 50-day moving average price of $18.29 and a 200-day moving average price of $18.95. The stock has a market cap of $70.23 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.47 and a beta of 0.97.

American Noble Gas (NYSE:INFY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. American Noble Gas had a return on equity of 29.41% and a net margin of 16.42%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the business earned $15.35 EPS. As a group, research analysts predict that American Noble Gas Inc. will post 0.74 EPS for the current fiscal year.

American Noble Gas Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.