Allianz SE Invests $449,000 in Adtalem Global Education Inc. (NYSE:ATGE)

Allianz SE purchased a new position in shares of Adtalem Global Education Inc. (NYSE:ATGE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,465 shares of the company’s stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ATGE. Capital World Investors increased its position in Adtalem Global Education by 5.2% in the 4th quarter. Capital World Investors now owns 1,016,441 shares of the company’s stock valued at $92,344,000 after acquiring an additional 50,000 shares during the period. Alyeska Investment Group L.P. increased its position in Adtalem Global Education by 19.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 609,428 shares of the company’s stock valued at $55,367,000 after acquiring an additional 99,491 shares during the period. Northern Trust Corp increased its position in Adtalem Global Education by 4.9% in the 4th quarter. Northern Trust Corp now owns 474,224 shares of the company’s stock valued at $43,083,000 after acquiring an additional 22,084 shares during the period. Allianz Asset Management GmbH increased its position in Adtalem Global Education by 58.2% in the 1st quarter. Allianz Asset Management GmbH now owns 409,437 shares of the company’s stock valued at $41,206,000 after acquiring an additional 150,702 shares during the period. Finally, Invesco Ltd. increased its position in Adtalem Global Education by 19.5% in the 4th quarter. Invesco Ltd. now owns 390,932 shares of the company’s stock valued at $35,516,000 after acquiring an additional 63,884 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ATGE. BMO Capital Markets raised their target price on Adtalem Global Education from $115.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, May 12th. Jefferies Financial Group assumed coverage on Adtalem Global Education in a research note on Wednesday, April 23rd. They set a “buy” rating and a $135.00 price target for the company. Finally, Barrington Research reaffirmed an “outperform” rating and set a $140.00 price target on shares of Adtalem Global Education in a research note on Wednesday, July 30th.

Adtalem Global Education Stock Performance

Shares of NYSE ATGE opened at $114.75 on Monday. The stock has a fifty day moving average price of $122.06 and a two-hundred day moving average price of $111.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $4.28 billion, a P/E ratio of 19.03, a PEG ratio of 1.02 and a beta of 0.88. Adtalem Global Education Inc. has a 1 year low of $67.30 and a 1 year high of $140.12.

Adtalem Global Education (NYSE:ATGE) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.29. The firm had revenue of $466.06 million during the quarter, compared to analyst estimates of $447.19 million. Adtalem Global Education had a return on equity of 17.47% and a net margin of 13.34%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. Research analysts forecast that Adtalem Global Education Inc. will post 6.2 EPS for the current fiscal year.

Adtalem Global Education announced that its board has authorized a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication 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 the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total transaction of $294,049.85. Following the completion of the sale, the director directly owned 9,368 shares of the company’s stock, valued at $1,202,382.80. This trade represents a 19.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

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.