Principal Financial Group Inc. Trims Stake in PRA Group, Inc. (NASDAQ:PRAA)

Principal Financial Group Inc. lessened its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 0.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,731 shares of the business services provider’s stock after selling 789 shares during the period. Principal Financial Group Inc.’s holdings in PRA Group were worth $5,313,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of PRA Group by 12.3% in the 3rd quarter. Wellington Management Group LLP now owns 3,884,085 shares of the business services provider’s stock valued at $74,613,000 after acquiring an additional 425,505 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in PRA Group by 17.2% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,621,215 shares of the business services provider’s stock valued at $42,476,000 after purchasing an additional 237,800 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its position in PRA Group by 192.2% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 293,583 shares of the business services provider’s stock valued at $7,692,000 after purchasing an additional 193,117 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in PRA Group by 42.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 450,193 shares of the business services provider’s stock worth $8,648,000 after buying an additional 133,774 shares in the last quarter. Finally, Redwood Investment Management LLC purchased a new position in PRA Group in the 4th quarter worth approximately $3,268,000. Institutional investors own 97.22% of the company’s stock.

PRA Group Trading Down 2.2 %

Shares of PRAA traded down $0.44 during mid-day trading on Friday, reaching $19.24. The company’s stock had a trading volume of 21,693 shares, compared to its average volume of 204,387. PRA Group, Inc. has a 52 week low of $11.85 and a 52 week high of $31.43. The company’s fifty day moving average price is $22.01 and its two-hundred day moving average price is $23.71.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, May 6th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.24. The business had revenue of $255.59 million during the quarter, compared to analyst estimates of $233.37 million. PRA Group had a negative net margin of 2.37% and a negative return on equity of 1.76%. The company’s revenue was up 64.4% on a year-over-year basis. During the same period in the prior year, the business posted ($1.50) earnings per share. As a group, equities research analysts forecast that PRA Group, Inc. will post 0.7 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Friday, May 24th. JMP Securities reiterated a “market outperform” rating and issued a $33.00 price objective on shares of PRA Group in a report on Tuesday, May 7th.

Insider Activity at PRA Group

In other news, CEO Vikram A. Atal sold 5,830 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.39, for a total value of $142,193.70. Following the transaction, the chief executive officer now owns 155,625 shares in the company, valued at $3,795,693.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

PRA Group Company 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.