Principal Financial Group Inc. Has $5.31 Million Stock Holdings in PRA Group, Inc. (NASDAQ:PRAA)

Principal Financial Group Inc. lowered its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 0.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 203,731 shares of the business services provider’s stock after selling 789 shares during the quarter. Principal Financial Group Inc. owned 0.52% of PRA Group worth $5,313,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PRAA. Wellington Management Group LLP lifted its position 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 worth $74,613,000 after acquiring an additional 425,505 shares during the period. Global Alpha Capital Management Ltd. lifted its position 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 worth $42,476,000 after purchasing an additional 237,800 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its stake 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 worth $7,692,000 after buying an additional 193,117 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings 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 valued at $8,648,000 after buying an additional 133,774 shares during the period. Finally, Redwood Investment Management LLC acquired a new position in shares of PRA Group in the 4th quarter valued at $3,268,000. 97.22% of the stock is owned by institutional investors.

PRA Group Stock Down 2.2 %

Shares of NASDAQ PRAA traded down $0.44 during midday trading on Friday, reaching $19.24. 21,693 shares of the company traded hands, compared to its average volume of 204,387. PRA Group, Inc. has a 12 month low of $11.85 and a 12 month high of $31.43. The stock’s 50-day simple moving average is $22.01 and its 200-day simple moving average is $23.71.

PRA Group (NASDAQ:PRAA) last announced 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 firm had revenue of $255.59 million during the quarter, compared to the consensus estimate of $233.37 million. PRA Group had a negative net margin of 2.37% and a negative return on equity of 1.76%. The firm’s quarterly revenue was up 64.4% on a year-over-year basis. During the same period last year, the firm posted ($1.50) EPS. As a group, equities research analysts expect that PRA Group, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRAA has been the topic of several recent research reports. StockNews.com upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research 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 research note on Tuesday, May 7th.

Insider Transactions at PRA Group

In related news, CEO Vikram A. Atal sold 5,830 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $24.39, for a total transaction of $142,193.70. Following the completion of the sale, the chief executive officer now directly owns 155,625 shares of the company’s stock, valued at approximately $3,795,693.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

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.