The PRA Group Inc. (PRAA) Stake Lowered by Ameriprise Financial Inc.

The PRA Group Inc. (PRAA) Stake Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its position in PRA Group Inc. (NASDAQ:PRAA) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 225,227 shares of the company’s stock after selling 6,459 shares during the period. Ameriprise Financial Inc. owned about 0.49% of PRA Group worth $5,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. IMS Capital Management raised its position in shares of PRA Group by 4.3% in the second quarter. IMS Capital Management now owns 8,524 shares of the company’s stock worth $206,000 after buying an additional 350 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of PRA Group by 10.6% in the second quarter. Wedbush Securities Inc. now owns 9,699 shares of the company’s stock worth $234,000 after buying an additional 926 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of PRA Group during the second quarter worth approximately $256,000. Welch & Forbes LLC raised its position in shares of PRA Group by 2.3% in the second quarter. Welch & Forbes LLC now owns 11,300 shares of the company’s stock worth $273,000 after buying an additional 250 shares in the last quarter. Finally, Creative Planning raised its position in shares of PRA Group by 40.4% in the second quarter. Creative Planning now owns 12,218 shares of the company’s stock worth $295,000 after buying an additional 3,515 shares in the last quarter.

PRA Group Inc. (NASDAQ:PRAA) traded up 0.15% during mid-day trading on Friday, hitting $32.50. The stock had a trading volume of 39,235 shares. PRA Group Inc. has a 52 week low of $20.00 and a 52 week high of $56.00. The stock has a market capitalization of $1.51 billion, a P/E ratio of 12.10 and a beta of 1.33. The company’s 50 day moving average is $32.98 and its 200-day moving average is $29.07.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $228.50 million for the quarter, compared to analyst estimates of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. PRA Group’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. On average, analysts expect that PRA Group Inc. will post $2.95 EPS for the current fiscal year.

A number of research analysts have commented on the company. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. SunTrust Banks Inc. set a $42.00 price objective on PRA Group and gave the company a “buy” rating in a report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of PRA Group in a report on Tuesday, September 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. PRA Group presently has an average rating of “Hold” and an average target price of $34.20.

In related news, insider Michael J. Petit sold 8,300 shares of PRA Group stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total transaction of $240,119.00. Following the sale, the insider now directly owns 116,857 shares in the company, valued at $3,380,673.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Petit sold 5,000 shares of PRA Group stock in a transaction on Friday, October 7th. The stock was sold at an average price of $34.23, for a total value of $171,150.00. Following the sale, the insider now owns 96,857 shares in the company, valued at $3,315,415.11. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

About PRA Group

PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.

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