Legal & General Group Plc Boosts Holdings in PRA Group, Inc. (PRAA)
Legal & General Group Plc raised its position in PRA Group, Inc. (NASDAQ:PRAA) by 11.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,540 shares of the business services provider’s stock after purchasing an additional 9,735 shares during the quarter. Legal & General Group Plc owned 0.20% of PRA Group worth $3,470,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Pitcairn Co. raised its position in PRA Group by 9.1% in the second quarter. Pitcairn Co. now owns 11,442 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 953 shares during the last quarter. Wedbush Securities Inc. increased its stake in shares of PRA Group by 4.2% in the second quarter. Wedbush Securities Inc. now owns 9,229 shares of the business services provider’s stock valued at $350,000 after buying an additional 374 shares during the period. Boston Partners increased its stake in shares of PRA Group by 2.0% in the second quarter. Boston Partners now owns 414,651 shares of the business services provider’s stock valued at $15,715,000 after buying an additional 8,027 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of PRA Group by 8.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 287,170 shares of the business services provider’s stock valued at $10,884,000 after buying an additional 22,999 shares during the period. Finally, Texas Permanent School Fund increased its stake in shares of PRA Group by 0.8% in the second quarter. Texas Permanent School Fund now owns 33,836 shares of the business services provider’s stock valued at $1,282,000 after buying an additional 283 shares during the period.
Several brokerages have recently weighed in on PRAA. BidaskClub cut PRA Group from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research cut PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods began coverage on PRA Group in a research note on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.00.
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Shares of PRA Group, Inc. (NASDAQ:PRAA) opened at 28.80 on Friday. The firm has a market cap of $1.30 billion, a PE ratio of 17.56 and a beta of 1.50. PRA Group, Inc. has a 1-year low of $23.15 and a 1-year high of $42.70. The company’s 50-day moving average price is $32.10 and its 200 day moving average price is $34.49.
PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.23). PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The business had revenue of $200.30 million for the quarter, compared to analysts’ expectations of $208.97 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, analysts predict that PRA Group, Inc. will post $2.09 EPS for the current year.
About PRA Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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