Legal & General Group Plc Purchases New Position in PRA Group, Inc. $PRAA

Legal & General Group Plc acquired a new position in PRA Group, Inc. (NASDAQ:PRAA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,273 shares of the business services provider’s stock, valued at approximately $537,000. Legal & General Group Plc owned about 0.08% of PRA Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in PRA Group in the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of PRA Group by 145.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 1,471 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of PRA Group in the 2nd quarter valued at $49,000. Larson Financial Group LLC lifted its stake in shares of PRA Group by 146.8% in the 4th quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in PRA Group by 375.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock worth $71,000 after purchasing an additional 3,777 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

PRA Group Trading Up 0.5%

Shares of PRA Group stock opened at $19.11 on Wednesday. The firm has a fifty day simple moving average of $18.52 and a 200-day simple moving average of $17.61. The stock has a market capitalization of $719.49 million, a price-to-earnings ratio of -2.84 and a beta of 1.11. PRA Group, Inc. has a 1-year low of $10.25 and a 1-year high of $22.55.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.99. The business had revenue of $372.17 million for the quarter, compared to analyst estimates of $299.99 million. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. As a group, research analysts predict that PRA Group, Inc. will post 3.93 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PRA Group has a consensus rating of “Hold” and an average price target of $26.00.

PRA Group Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.