Principal Financial Group Inc. Decreases Holdings in PRA Group, Inc. (NASDAQ:PRAA)

Principal Financial Group Inc. trimmed its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 4.7% in the second quarter, Holdings Channel reports. The firm owned 194,056 shares of the business services provider’s stock after selling 9,675 shares during the period. Principal Financial Group Inc.’s holdings in PRA Group were worth $3,815,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in PRA Group in the 2nd quarter valued at about $57,000. PNC Financial Services Group Inc. boosted its position in PRA Group by 11.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after buying an additional 419 shares during the last quarter. SG Americas Securities LLC purchased a new position in PRA Group in the 1st quarter valued at about $103,000. ProShare Advisors LLC purchased a new position in PRA Group in the 1st quarter valued at about $203,000. Finally, Quadrature Capital Ltd purchased a new position in PRA Group in the 4th quarter valued at about $454,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Geir Olsen bought 11,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the transaction, the director now owns 11,750 shares in the company, valued at $251,332.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

PRA Group Stock Down 0.6 %

PRAA opened at $20.37 on Wednesday. The firm has a market cap of $802.99 million, a price-to-earnings ratio of -37.72 and a beta of 1.49. PRA Group, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $31.43. The company’s 50-day moving average price is $22.44 and its 200 day moving average price is $23.06.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.46. The firm had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. PRA Group’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Research analysts anticipate that PRA Group, Inc. will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRAA has been the subject of a number of analyst reports. Truist Financial decreased their price objective on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. StockNews.com lowered shares of PRA Group from a “buy” rating to a “hold” rating in a research note on Monday.

About PRA Group

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.