Perdoceo Education Co. (NASDAQ:PRDO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,306 shares of the company’s stock after selling 1,148 shares during the period. The Manufacturers Life Insurance Company’s holdings in Perdoceo Education were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Perdoceo Education by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,069,173 shares of the company’s stock worth $108,580,000 after purchasing an additional 28,909 shares during the period. Renaissance Technologies LLC increased its position in Perdoceo Education by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock worth $96,512,000 after purchasing an additional 107,918 shares during the period. Pacer Advisors Inc. increased its position in Perdoceo Education by 24.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock worth $56,766,000 after purchasing an additional 518,048 shares during the period. LSV Asset Management increased its position in Perdoceo Education by 3.9% during the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock worth $43,060,000 after purchasing an additional 75,293 shares during the period. Finally, American Century Companies Inc. increased its position in Perdoceo Education by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 1,384,674 shares of the company’s stock worth $29,660,000 after purchasing an additional 101,575 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Perdoceo Education Price Performance

PRDO opened at $27.35 on Friday. The stock has a market cap of $1.80 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 1.07. The stock’s 50 day simple moving average is $24.45 and its 200 day simple moving average is $22.98. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last posted its 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. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm had revenue of $169.83 million for the quarter, compared to analyst estimates of $164.60 million. During the same quarter in the prior year, the company earned $0.64 EPS. Perdoceo Education’s revenue was down 5.6% on a year-over-year basis. Research analysts expect that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, December 2nd. Perdoceo Education’s payout ratio is currently 26.13%.

Insider Activity at Perdoceo Education

In other news, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $26.47, for a total transaction of $809,293.78. Following the sale, the senior vice president now owns 130,405 shares in the company, valued at $3,451,820.35. This trade represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick W. Gross sold 3,400 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the transaction, the director now owns 69,635 shares in the company, valued at $1,862,039.90. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PRDO has been the topic of a number of research reports. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 8th. Barrington Research upped their price target on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Perdoceo Education Company Profile

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.