Allianz Asset Management GmbH Increases Holdings in Perdoceo Education Corporation (NASDAQ:PRDO)

Allianz Asset Management GmbH lifted its stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 212.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,026 shares of the company's stock after purchasing an additional 42,186 shares during the quarter. Allianz Asset Management GmbH owned about 0.09% of Perdoceo Education worth $1,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRDO. IFP Advisors Inc purchased a new position in shares of Perdoceo Education in the 1st quarter worth approximately $25,000. Quarry LP boosted its holdings in Perdoceo Education by 223.6% during the 4th quarter. Quarry LP now owns 1,793 shares of the company's stock valued at $47,000 after acquiring an additional 1,239 shares during the period. New Vernon Capital Holdings II LLC purchased a new position in Perdoceo Education during the 4th quarter valued at $127,000. Point72 Asset Management L.P. boosted its holdings in Perdoceo Education by 31.7% during the 4th quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock valued at $209,000 after acquiring an additional 1,900 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new position in Perdoceo Education during the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 93.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PRDO shares. Wall Street Zen cut Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Barrington Research restated an "outperform" rating and set a $40.00 price objective on shares of Perdoceo Education in a report on Friday.

Perdoceo Education Stock Up 3.2%

Shares of PRDO stock traded up $0.92 during mid-day trading on Friday, hitting $29.70. The stock had a trading volume of 1,364,830 shares, compared to its average volume of 643,404. Perdoceo Education Corporation has a 12-month low of $20.55 and a 12-month high of $34.60. The firm has a market capitalization of $1.95 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.80 and a beta of 0.87. The firm's 50-day moving average is $31.19 and its two-hundred day moving average is $28.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 4.43.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $209.58 million during the quarter, compared to analyst estimates of $206.92 million. Perdoceo Education had a return on equity of 17.26% and a net margin of 20.09%. The business's revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, analysts predict that Perdoceo Education Corporation will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.60 annualized dividend and a yield of 2.0%. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. Perdoceo Education's dividend payout ratio is currently 23.01%.

Insider Activity at Perdoceo Education

In other news, SVP John Robert Kline sold 71,254 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total value of $2,262,314.50. Following the transaction, the senior vice president directly owned 75,868 shares of the company's stock, valued at approximately $2,408,809. This represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sunitha Araamudhu sold 14,296 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $30.69, for a total value of $438,744.24. Following the completion of the sale, the senior vice president owned 34,891 shares in the company, valued at $1,070,804.79. The trade was a 29.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,474 shares of company stock worth $4,157,836 over the last ninety days. Corporate insiders own 2.11% of the company's stock.

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.