Welcome to our dedicated page for PRA Group news (Ticker: PRAA), a resource for investors and traders seeking the latest updates and insights on PRA Group stock.
PRA Group, Inc. (Nasdaq: PRAA) is a global leader in acquiring and collecting nonperforming loans. The company returns capital to banks and other creditors, helping to expand financial services for consumers in the Americas, Europe, and Australia. PRA Group is renowned for its comprehensive debt resolution services, providing a range of revenue and recovery solutions for business and government clients.
The company operates in two main portfolio segments: Core, which focuses on purchasing and collecting nonperforming loans that the original lenders have chosen not to pursue, and Insolvency, which deals with nonperforming loans involving customers in bankruptcy proceedings. Additionally, PRA Group offers fee-based services on class action claims recoveries in the United States.
With thousands of employees worldwide, PRA Group collaborates closely with customers to help them resolve their debt, fostering a spirit of cooperation and financial improvement. The company's commitment to excellence has earned it numerous accolades, including recognition as one of Fortune's 100 fastest-growing companies for three years and Forbes' Best Small Companies in America for eight consecutive years since 2007.
In line with its commitment to diversity and inclusion, PRA Group has launched several Employee Resource Groups (ERGs) to support its workforce. Noteworthy among them is the Black Excellence ERG, which celebrates and embraces Black culture globally. This ERG, along with others like Women in Business Advocates and the Mental and Emotional Well-Being ERG, underscores the company’s dedication to creating an inclusive environment.
Recent achievements include the financial results for the fourth quarter and full year of 2023, where PRA Group reported strong performance in its European sector and significant strides in improving its U.S. operations. The company purchased portfolios worth $285 million in the fourth quarter alone, demonstrating robust growth and investment discipline.
For those interested in the latest developments, PRA Group consistently updates its stakeholders through news releases and financial reports. Notable announcements include the appointment of Steve Macke as Global Operations Officer and the successful launch of the ¡Hola! ERG, aimed at supporting Hispanic and Latino employees.
For further information, visit their official website at www.pragroup.com or follow their latest news and updates.
PRA Group's CEO, Kevin Stevenson, has been recognized for the third consecutive year in the Virginia 500 Power List for 2022-23, highlighting influential leaders in various sectors. The recognition emphasizes Stevenson's role in the nonperforming loan industry and the company's commitment to improving consumer financial futures. PRA Group aims to contribute positively to communities and the economy through its efforts in debt resolution and employee development. The announcement reflects PRA Group's prominence in the financial sector.
PRA Group, Inc. (Nasdaq: PRAA) reported Q2 2022 financial results, highlighting total portfolio purchases of $231.3 million and cash collections of $444.1 million. Net income was $36.5 million, with diluted earnings per share at $0.91, a decrease from $1.22 in Q2 2021. The company noted a strong balance sheet, with $1.6 billion available under credit facilities. However, cash collections fell 18.3% from the previous year, primarily due to lower U.S. collections. Despite these challenges, PRAA remains committed to disciplined capital allocation and share repurchases.
PRA Group (Nasdaq: PRAA) has appointed LaTisha Tarrant as its new Chief Human Resources Officer, effective Aug. 15, 2022. Tarrant brings over 20 years of public company experience and has held various leadership roles at PRA Group since 2016. Her focus will be on talent recruitment, employee engagement, and diversity initiatives. Tarrant previously served as senior vice president and deputy general counsel, managing corporate legal matters and ESG initiatives. This leadership change aims to enhance the company's human resources operations.
PRA Group, Inc. (NASDAQ: PRAA) has appointed Giovanna Genard as the new Vice President of External Affairs and Marketing Leader. Genard's role will focus on developing PRA Group's global communication, public relations, and brand strategy, enhancing the company's international reputation. With extensive experience in public and media relations, she has previously served at Old Dominion University as Assistant Vice President for Public Relations. Genard aims to further advance PRA Group's growth since its inception in 1996, reinforcing its commitment to improving customers' financial futures.
PRA Group, Inc. (Nasdaq: PRAA) has appointed Najim Mostamand, CFA, as the new vice president of investor relations. Mostamand, who brings nearly a decade of experience from managing investor relations at over 20 small-cap companies, aims to enhance PRA Group's investor engagement strategies. Senior executives expressed optimism about his ability to further develop the company's investor relations roadmap and deepen relationships with stakeholders. Mostamand's appointment is seen as a strategic move to fortify the company’s long-term shareholder value.
PRA Group, Inc. (Nasdaq: PRAA), a leader in acquiring and collecting nonperforming loans, will report its second quarter 2022 results after market close on August 8, 2022. A webcast and conference call is scheduled for 5 p.m. E.T. on the same day. Investors can access the call via phone or online at the company's investor relations site. Additionally, PRA Group plans to report third quarter 2022 results on November 3, 2022.
PRA Group, Inc. (PRAA), a leader in acquiring nonperforming loans, announced a partnership with Truist to launch a financial wellness program for U.S. employees, aiming to enhance financial literacy and confidence. The program, which will be fully funded by PRA Group for employees and their families, offers online modules and coaching covering topics such as home budgeting, retirement investing, and credit building. The initiative responds to a decline in financial literacy in the U.S., as reported by the 2018 National Financial Capability Study, which noted that 72% of Americans experience financial stress.
PRA Group, Inc. (Nasdaq: PRAA), a leader in acquiring and collecting nonperforming loans, will present at the William Blair 42nd Annual Growth Stock Conference on June 7, 2022, at 1:00 PM ET. The event offers investors insights into the company's operations. A webcast will be accessible via the Investor Relations section of PRA Group's website. With a global presence, the company aids in returning capital to creditors, enhancing financial services for consumers across the Americas, Europe, and Australia.
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