I can't give you the exact answer because I did what you describe in Photoshop.
I selected the logo and inverted the selection so that the background was selected. Then I got rid of the background so that it was transparent. I tried to save it as a JPEG but that didn't work. I saved it as a PSD and then added it to Premier Elements as media. Once in the Premier Elements, you can put it on a video track above your primary track. Then you can change the position and size as needed.
Bill is correct. The best way to do this is to open your logo in Photoshop Elements, make the background image a layer, remove the background and save the file as a PSD file. Then it will come into Premiere Elements with no background. (FWIW, I show you how to do this in my Muvipix Guide to Photoshop Elements & Premiere Elements, available on Amazon.)
If you are not able to do this in Photoshop Elements, you can drop by the Community Forum at Premiere Elements support site Muvipix.com and I or one of the other community members will create a transparent PSD for you.
Otherwise, you MAY be able to make the black background transparent by applying the Videomerge effect to the clip and then setting the key color to black -- but the results will probably not be as clean as you'll get doing it the "right" way.
Thanks guys both of those helped me out tremendously all I had to do was upload the photo into Premiere Elements 14 and make sure I did not click video merge when it popped up and fix the issue for me. But as for moving forward I just returned my Photoshop Elements 15 that I had purchased so that I could use the money towards the entire Creative Cloud Library so I have the pro version of everything now so I'm going to be able to do a lot more.
..... towards the entire Creative Cloud Library so I have the pro version of everything .....