Jennison Associates LLC Reduces Stock Position in Adtalem Global Education Inc. (NYSE:ATGE)

Jennison Associates LLC lessened its holdings in Adtalem Global Education Inc. (NYSE:ATGE) by 31.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,735 shares of the company’s stock after selling 5,495 shares during the quarter. Jennison Associates LLC’s holdings in Adtalem Global Education were worth $692,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Phocas Financial Corp. purchased a new position in Adtalem Global Education in the fourth quarter valued at $7,305,000. Comerica Bank increased its holdings in Adtalem Global Education by 580.3% in the third quarter. Comerica Bank now owns 122,427 shares of the company’s stock valued at $5,246,000 after buying an additional 104,431 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Adtalem Global Education by 1,584.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,786 shares of the company’s stock valued at $2,994,000 after buying an additional 47,771 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Adtalem Global Education during the third quarter worth about $653,000. Finally, Deutsche Bank AG grew its holdings in shares of Adtalem Global Education by 11.9% during the third quarter. Deutsche Bank AG now owns 27,583 shares of the company’s stock worth $1,182,000 after purchasing an additional 2,936 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Price Performance

Shares of ATGE opened at $49.68 on Friday. Adtalem Global Education Inc. has a fifty-two week low of $33.59 and a fifty-two week high of $62.99. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.69 and a beta of 0.92. The firm has a 50-day simple moving average of $48.69 and a 200-day simple moving average of $52.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 0.95.

Adtalem Global Education (NYSE:ATGE) last announced its earnings results on Wednesday, January 31st. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.23. The business had revenue of $393.24 million during the quarter, compared to the consensus estimate of $372.79 million. Adtalem Global Education had a net margin of 7.93% and a return on equity of 13.05%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, equities research analysts anticipate that Adtalem Global Education Inc. will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ATGE. StockNews.com lowered Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th. Barrington Research reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Adtalem Global Education in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $56.67.

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.