Vanguard Personalized Indexing Management LLC Acquires 2,124 Shares of PROG Holdings, Inc. (NYSE:PRG)

Vanguard Personalized Indexing Management LLC grew its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 28.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,676 shares of the company’s stock after buying an additional 2,124 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in PROG were worth $336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its stake in PROG by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock valued at $1,348,000 after buying an additional 525 shares during the last quarter. Diversified Trust Co raised its holdings in shares of PROG by 8.4% in the second quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock worth $254,000 after buying an additional 569 shares during the last quarter. ProShare Advisors LLC lifted its position in PROG by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock worth $308,000 after acquiring an additional 612 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 during the last quarter. Finally, Guidance Capital Inc. increased its stake in shares of PROG by 7.0% in the second quarter. Guidance Capital Inc. now owns 15,658 shares of the company’s stock worth $543,000 after acquiring an additional 1,029 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. KeyCorp lifted their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and boosted their price target for the company from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, BTIG Research started coverage on shares of PROG in a report on Friday, June 7th. They set a “neutral” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PROG presently has an average rating of “Moderate Buy” and an average target price of $47.20.

PROG Price Performance

Shares of PRG opened at $48.19 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The firm has a fifty day moving average price of $44.77 and a 200 day moving average price of $37.95. The stock has a market cap of $2.04 billion, a PE ratio of 19.67 and a beta of 2.11.

PROG (NYSE:PRG) last released its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $573.23 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.34 EPS for the current year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s dividend payout ratio (DPR) is presently 19.59%.

About PROG

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.