Pra Group Inc Stock Price, News & Analysis

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.

PRA Group, Inc. (Nasdaq: PRAA) CEO Kevin Stevenson received the Community Builders Award on May 20, 2022, recognizing his commitment to exemplary leadership and community advocacy. Stevenson has significantly impacted the debt collection industry, fostering a culture of giving back, with $10 million donated to charities and an additional $250,000 recently designated for employee-nominated nonprofits. Under his leadership, PRA Group has created over 1,500 jobs in Virginia, demonstrating a long-term focus on community and employee engagement.

PRA Group (Nasdaq: PRAA) has launched a Mental Emotional Well-Being Employee Resource Group (ERG) to enhance mental health awareness among employees. This initiative aims to provide support and resources for mental wellness, addressing issues such as grief and anxiety. Led by Chris Tignor and Timothy Santo, the ERG reflects the company’s commitment to mental health, paralleling their support for community programs like EQUI-KIDS. Additionally, PRA Group has contributed $100,000 to the Children's Hospital of the King's Daughters to support mental health initiatives.

PRA Group, Inc. (Nasdaq: PRAA) announced the promotion of Jan Husby to Chief Information Officer, effective immediately. Husby, who has over 30 years of IT experience, previously served as CIO for PRA's European operations. In his new role, he will lead IT strategies across PRA Group's global platform, reporting directly to the CFO. Husby's leadership aims to enhance and integrate information technology to support the company's future evolution. He has a master's in Computer Science from Cornell University.

PRA Group, Inc. (Nasdaq: PRAA) reported its Q1 2022 financial results, showing a net income of $40.0 million, down from $58.4 million year-over-year. Diluted earnings per share fell to $0.97 from $1.27. Total cash collections amounted to $481.0 million, a decrease of $74.9 million compared to Q1 2021, attributed to reduced U.S. collections. The company invested $147.5 million in portfolio purchases. Operating expenses declined by $10.1 million, while the effective tax rate was 11.7%. PRAA plans to report Q2 results on August 8, 2022.

PRA Group, Inc. (PRAA) appointed Rakesh Sehgal as Senior Vice President and Head of Corporate Development, effective May 5, 2022. Based in New York, Rakesh will oversee global corporate development, including mergers and acquisitions. With over two decades of experience, he has managed over $50 billion in M&A transactions at General Electric and GE Capital. CFO Pete Graham emphasized Rakesh's role in driving long-term growth and shareholder value as the company prepares for its next phase of evolution.

PRA Group, Inc. (Nasdaq: PRAA) will announce its first quarter 2022 results on May 9, 2022, after market close, followed by a webcast at 5 p.m. E.T. Interested investors can access the call by dialing 844-835-9982 in the U.S. or 412-317-5267 outside the U.S. Additionally, the company plans to release its second quarter 2022 results on August 8, 2022. As a leading firm in acquiring nonperforming loans, PRA Group aims to help expand financial services across several regions.