PRA Group, Inc. (NASDAQ:PRAA) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 2.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 196,312 shares of the business services provider’s stock after acquiring an additional 5,144 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of PRA Group worth $4,048,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in PRA Group by 195.7% in the fourth quarter. Invesco Ltd. now owns 799,307 shares of the business services provider’s stock valued at $16,698,000 after purchasing an additional 529,041 shares during the last quarter. Raymond James Financial Inc. bought a new stake in PRA Group during the fourth quarter valued at $7,657,000. JPMorgan Chase & Co. raised its stake in PRA Group by 356.3% during the fourth quarter. JPMorgan Chase & Co. now owns 341,952 shares of the business services provider’s stock worth $7,143,000 after acquiring an additional 267,015 shares during the period. Marshall Wace LLP grew its stake in PRA Group by 271.0% during the 4th quarter. Marshall Wace LLP now owns 337,166 shares of the business services provider’s stock worth $7,043,000 after buying an additional 246,282 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in PRA Group by 75,251.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 203,450 shares of the business services provider’s stock valued at $4,250,000 after purchasing an additional 203,180 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PRAA shares. Wall Street Zen lowered shares of PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. JMP Securities decreased their target price on PRA Group from $30.00 to $23.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 6th.

PRA Group Stock Performance

Shares of NASDAQ:PRAA opened at $15.87 on Friday. The business has a fifty day moving average of $14.86 and a 200-day moving average of $18.28. PRA Group, Inc. has a twelve month low of $12.91 and a twelve month high of $27.54. The firm has a market cap of $629.40 million, a PE ratio of 8.87 and a beta of 1.52.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Monday, May 5th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.32). PRA Group had a return on equity of 5.09% and a net margin of 6.27%. The firm had revenue of $269.62 million for the quarter, compared to the consensus estimate of $288.63 million. During the same quarter in the previous year, the business earned $0.09 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Transactions at PRA Group

In related news, Director Brett Lee Paschke acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $13.39 per share, with a total value of $66,950.00. Following the transaction, the director directly owned 30,056 shares of the company’s stock, valued at $402,449.84. This trade represents a 19.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

PRA Group Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.