Principal Financial Group Inc. Sells 8,322 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Principal Financial Group Inc. lowered its position in PRA Group, Inc. (NASDAQ:PRAA) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,734 shares of the business services provider’s stock after selling 8,322 shares during the period. Principal Financial Group Inc. owned 0.47% of PRA Group worth $4,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its position in PRA Group by 55.0% in the 3rd quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 606 shares during the last quarter. Centiva Capital LP lifted its position in PRA Group by 4.4% during the 3rd quarter. Centiva Capital LP now owns 16,618 shares of the business services provider’s stock worth $372,000 after buying an additional 701 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in PRA Group by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock worth $294,000 after buying an additional 712 shares in the last quarter. Sei Investments Co. grew its holdings in PRA Group by 0.9% during the 2nd quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock worth $1,877,000 after acquiring an additional 826 shares during the last quarter. Finally, Quarry LP increased its position in PRA Group by 282.6% in the 3rd quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 972 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRAA. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Truist Financial increased their price objective on PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

PRA Group Trading Down 1.4 %

Shares of NASDAQ PRAA opened at $20.59 on Friday. The firm has a market capitalization of $811.80 million, a PE ratio of 18.72 and a beta of 1.49. The firm’s 50-day moving average is $21.44 and its 200-day moving average is $21.64. PRA Group, Inc. has a 1 year low of $18.64 and a 1 year high of $31.43.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.37. The firm had revenue of $281.48 million during the quarter, compared to analyst estimates of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) EPS. As a group, equities research analysts anticipate that PRA Group, Inc. will post 1.57 earnings per share for the current fiscal year.

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.