Bank of New York Mellon Corp Sells 14,123 Shares of Adtalem Global Education Inc. (NYSE:ATGE)

Bank of New York Mellon Corp trimmed its position in Adtalem Global Education Inc. (NYSE:ATGE - Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,976 shares of the company's stock after selling 14,123 shares during the quarter. Bank of New York Mellon Corp owned 0.70% of Adtalem Global Education worth $26,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in Adtalem Global Education by 56.8% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the company's stock valued at $29,000 after purchasing an additional 104 shares during the period. Vontobel Holding Ltd. increased its position in shares of Adtalem Global Education by 6.4% during the first quarter. Vontobel Holding Ltd. now owns 2,559 shares of the company's stock worth $258,000 after acquiring an additional 155 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Adtalem Global Education by 5.4% during the fourth quarter. Quantinno Capital Management LP now owns 3,224 shares of the company's stock worth $293,000 after buying an additional 165 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Adtalem Global Education by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,922 shares of the company's stock worth $356,000 after purchasing an additional 194 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Adtalem Global Education by 18.2% in the fourth quarter. Federated Hermes Inc. now owns 1,497 shares of the company's stock valued at $136,000 after purchasing an additional 231 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ATGE. Jefferies Financial Group started coverage on shares of Adtalem Global Education in a report on Wednesday, April 23rd. They set a "buy" rating and a $135.00 target price on the stock. BMO Capital Markets boosted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Barrington Research increased their price target on Adtalem Global Education from $120.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, May 9th.

Adtalem Global Education Stock Up 0.2%

Shares of NYSE ATGE traded up $0.19 during midday trading on Friday, hitting $116.77. 355,243 shares of the stock traded hands, compared to its average volume of 443,177. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. Adtalem Global Education Inc. has a one year low of $67.30 and a one year high of $140.12. The business has a 50 day moving average price of $125.36 and a two-hundred day moving average price of $109.96. The company has a market cap of $4.35 billion, a PE ratio of 19.36, a P/E/G ratio of 1.04 and a beta of 0.90.

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

Adtalem Global Education announced that its board has authorized a share buyback plan on Tuesday, May 6th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Adtalem Global Education

In other news, Director William W. Burke sold 2,291 shares of Adtalem Global Education stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total value of $294,049.85. Following the completion of the transaction, the director directly owned 9,368 shares in the company, valued at approximately $1,202,382.80. The trade was a 19.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

Adtalem Global Education 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.