Principal Financial Group Inc. Decreases Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Principal Financial Group Inc. trimmed its position in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 9.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,283 shares of the company's stock after selling 33,458 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Perdoceo Education worth $6,856,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Perdoceo Education in the 2nd quarter worth approximately $92,000. Rhumbline Advisers boosted its stake in Perdoceo Education by 0.7% during the second quarter. Rhumbline Advisers now owns 207,644 shares of the company's stock worth $4,448,000 after buying an additional 1,511 shares during the last quarter. Gallacher Capital Management LLC grew its holdings in Perdoceo Education by 48.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 45,496 shares of the company's stock valued at $975,000 after buying an additional 14,892 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of Perdoceo Education in the 2nd quarter worth $578,000. Finally, LSV Asset Management raised its holdings in shares of Perdoceo Education by 3.9% during the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company's stock worth $43,060,000 after acquiring an additional 75,293 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, Director Patrick W. Gross sold 3,400 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.74, for a total transaction of $90,916.00. Following the sale, the director now owns 69,635 shares in the company, valued at $1,862,039.90. This represents a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John Robert Kline sold 30,574 shares of Perdoceo Education stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $26.47, for a total value of $809,293.78. Following the completion of the transaction, the senior vice president now owns 130,405 shares of the company's stock, valued at $3,451,820.35. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.81% of the company's stock.

Perdoceo Education Trading Up 0.9 %

Perdoceo Education stock traded up $0.24 during trading on Wednesday, hitting $26.47. The company had a trading volume of 306,147 shares, compared to its average volume of 463,013. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.81 and a beta of 1.07. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $29.47. The company's 50 day simple moving average is $25.87 and its 200-day simple moving average is $23.41.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The business had revenue of $169.83 million during the quarter, compared to analysts' expectations of $164.60 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The company's revenue was down 5.6% on a year-over-year basis. As a group, analysts forecast that Perdoceo Education Co. will post 2.27 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Monday, December 2nd. Perdoceo Education's dividend payout ratio (DPR) is currently 26.13%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRDO. StockNews.com raised shares of Perdoceo Education from a "buy" rating to a "strong-buy" rating in a report on Sunday, December 8th. Barrington Research boosted their price objective on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th.

Perdoceo Education Profile

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.