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, Inc. (Nasdaq: PRAA) reported a strong financial performance for Q4 and full year 2021. Net income rose 15% to $34.3 million in Q4, with diluted EPS at $0.79, a 22% increase. Annual net income reached $183.2 million, reflecting a 23% growth. Total cash collections hit a record of $2.1 billion, bolstered by strategic portfolio purchases totaling $972.3 million. The company maintained a healthy cash efficiency ratio of 65.3%. A new $150 million share repurchase program has been authorized, indicating confidence in future growth opportunities.
PRA Group, Inc. (Nasdaq: PRAA) will release its fourth quarter and full year 2021 financial results on February 28, 2022, after market close. A conference call and webcast will follow at 5 p.m. E.T. Investors can access the webcast and slides at the company's investor relations website. Additionally, PRA Group plans to report its first quarter 2022 results after market close on May 9, 2022. As a leader in acquiring and collecting nonperforming loans, PRA Group serves clients in the Americas, Europe, and Australia.
PRA Group, a leader in acquiring nonperforming loans, has announced a $250,000 increase in its annual charitable giving, celebrating its 25th anniversary. This initiative enables employees to nominate organizations worldwide, resulting in over 200 nominations. Notable beneficiaries include The Terry Fox Foundation and St. Jude Children's Research Hospital. Since 2009, PRA Group has contributed over $7.8 million to various charitable causes. The company emphasizes community engagement, enhanced by virtual events due to COVID-19 restrictions, and maintains a robust employee matching program.
PRA Group (Nasdaq: PRAA) has been announced as the anchor tenant for the HALO Enterprise and Innovation Centre in Kilmarnock, U.K., committing to a 15-year lease. This move will create additional job opportunities for its 300 employees and strengthen local partnerships. The facility emphasizes sustainability, aligning with PRA Group's mission for environmental responsibility. Supported by a £3.5 million investment from the UK Government as part of the Ayrshire Growth Deal, the HALO aims to be a leader in digital and cyber training, fostering local economic growth.
PRA Group, Inc. (PRAA) reported its Q3 2021 financial results, with net income of $34.5 million, down from $42.5 million in Q3 2020. Diluted earnings per share fell to $0.76 from $0.92. Total portfolio purchases surged to $391.9 million, marking a 78% increase from Q2 2021. Europe accounted for $219.6 million of purchases, reflecting strong demand. Estimated remaining collections rose to $6.1 billion. Operating expenses increased by $6.9 million, impacting profitability. The company repurchased $74 million in stock and expanded its buyback program to $230 million.
PRA Group, Inc. (Nasdaq: PRAA) has announced an $80 million increase to its existing share repurchase authorization, reflecting its strong capital position and commitment to enhancing shareholder value. This expansion aligns with recent credit facility amendments and will be managed while balancing the company's investment pipeline and growth targets. The program has no expiration date and is subject to market conditions and regulatory requirements, with purchases made at the discretion of the Board of Directors.
PRA Group, Inc. (Nasdaq: PRAA) is set to report its third quarter 2021 results on November 8, 2021, following a conference call at 5 p.m. E.T.. Investors can access the results via webcast or phone. The company also plans to announce its fourth quarter results after market close on February 24, 2022. As a leading firm in acquiring and collecting nonperforming loans, PRAA aims to support financial services for consumers across the Americas, Europe, and Australia.
PRA Group, Inc. (Nasdaq: PRAA) has priced its upsized offering of $350 million 5.00% Senior Notes due 2029, increased from $300 million. The offering is to close around September 22, 2021, pending customary conditions. The notes will be guaranteed by PRA Group's domestic subsidiaries. Net proceeds will be used to repay approximately $345.5 million of revolving borrowings under its Credit Agreement, maintaining borrowing capacity. This private offering is exempt from registration under the Securities Act.
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