Jupiter Asset Management Ltd. Sells 106,950 Shares of PROG Holdings, Inc. (NYSE:PRG)

Jupiter Asset Management Ltd. lowered its holdings in PROG Holdings, Inc. (NYSE:PRG) by 41.0% in the second quarter, Holdings Channel reports. The firm owned 153,763 shares of the company’s stock after selling 106,950 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in PROG were worth $5,332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in shares of PROG by 0.6% in the 4th quarter. Comerica Bank now owns 62,643 shares of the company’s stock valued at $1,936,000 after acquiring an additional 393 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of PROG by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock worth $1,348,000 after purchasing an additional 525 shares during the last quarter. Diversified Trust Co raised its stake in shares of PROG by 8.4% during the 2nd quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock worth $254,000 after purchasing an additional 569 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of PROG by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock valued at $308,000 after buying an additional 612 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PROG by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company’s stock valued at $351,000 after buying an additional 805 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. KeyCorp increased their price target on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday. BTIG Research assumed coverage on shares of PROG in a research note on Friday, June 7th. They issued a “neutral” rating for the company. TD Cowen lifted their price target on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

PROG Trading Up 2.8 %

Shares of PRG stock opened at $46.33 on Friday. PROG Holdings, Inc. has a 12-month low of $26.39 and a 12-month high of $47.85. The firm has a 50 day moving average price of $41.79 and a two-hundred day moving average price of $36.72. The company has a quick ratio of 1.80, a current ratio of 3.87 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.96 billion, a PE ratio of 18.91 and a beta of 2.11.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same period in the previous year, the company posted $0.92 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts predict that PROG Holdings, Inc. will post 3.34 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is 19.59%.

PROG Company Profile

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.