Perdoceo Education Co. (NASDAQ:PRDO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 308,283 shares of the company’s stock after selling 33,458 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Perdoceo Education worth $6,856,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PRDO. ProShare Advisors LLC lifted its stake in shares of Perdoceo Education by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 13,180 shares of the company’s stock valued at $231,000 after purchasing an additional 906 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Perdoceo Education by 69.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 150,557 shares of the company’s stock worth $2,644,000 after acquiring an additional 61,734 shares during the period. Vanguard Group Inc. lifted its position in shares of Perdoceo Education by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock valued at $103,538,000 after buying an additional 45,259 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Perdoceo Education by 2.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 117,546 shares of the company’s stock valued at $2,063,000 after purchasing an additional 2,832 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Perdoceo Education by 13.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,680 shares of the company’s stock worth $329,000 after purchasing an additional 2,189 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Perdoceo Education Stock Performance

Shares of Perdoceo Education stock opened at $26.40 on Wednesday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.78 and a beta of 1.04. The stock has a 50 day moving average of $22.48 and a 200 day moving average of $22.51. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 1.97%. Perdoceo Education’s dividend payout ratio is presently 26.13%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PRDO shares. Barrington Research increased their price objective on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 14th.

Insiders Place Their Bets

In other Perdoceo Education news, SVP John Robert Kline sold 30,574 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the completion of the transaction, the senior vice president now owns 130,405 shares in the company, valued at $3,451,820.35. The trade was a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.