Fifth Third Bancorp Boosts Stock Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Fifth Third Bancorp lifted its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 650.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,884 shares of the company’s stock after buying an additional 1,633 shares during the period. Fifth Third Bancorp’s holdings in Perdoceo Education were worth $40,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. AJOVista LLC bought a new position in Perdoceo Education during the 4th quarter worth approximately $81,000. Banque Cantonale Vaudoise boosted its stake in shares of Perdoceo Education by 9.9% during the first quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock valued at $110,000 after purchasing an additional 565 shares during the period. ProShare Advisors LLC boosted its stake in shares of Perdoceo Education by 7.4% during the first quarter. ProShare Advisors LLC now owns 13,180 shares of the company’s stock valued at $231,000 after purchasing an additional 906 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Perdoceo Education in the fourth quarter worth approximately $281,000. Finally, AXS Investments LLC purchased a new position in shares of Perdoceo Education in the fourth quarter worth $291,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of Perdoceo Education in a research report on Wednesday, August 21st.

Perdoceo Education Price Performance

Shares of NASDAQ:PRDO opened at $22.74 on Tuesday. Perdoceo Education Co. has a 1 year low of $15.94 and a 1 year high of $26.40. The stock’s 50-day moving average is $22.46 and its 200 day moving average is $20.55. The company has a market cap of $1.49 billion, a PE ratio of 10.02, a P/E/G ratio of 0.74 and a beta of 1.02.

Perdoceo Education (NASDAQ:PRDO) last posted its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. The firm had revenue of $166.74 million for the quarter, compared to analysts’ expectations of $160.91 million. During the same period in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was down 10.6% compared to the same quarter last year. Analysts expect that Perdoceo Education Co. will post 2.21 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Sunday, September 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.29%. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, August 30th. Perdoceo Education’s dividend payout ratio (DPR) is currently 22.91%.

Insider Activity

In related news, Director William Dean Hansen sold 13,185 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total value of $303,386.85. Following the completion of the transaction, the director now directly owns 39,016 shares of the company’s stock, valued at $897,758.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director William Dean Hansen sold 13,185 shares of Perdoceo Education stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total transaction of $303,386.85. Following the sale, the director now directly owns 39,016 shares in the company, valued at $897,758.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory L. Jackson sold 26,664 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the transaction, the chairman now owns 58,644 shares of the company’s stock, valued at approximately $1,331,218.80. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.

Perdoceo Education Company 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.