TD Asset Management Inc Acquires 4,500 Shares of PROG Holdings, Inc. (NYSE:PRG)

TD Asset Management Inc raised its holdings in PROG Holdings, Inc. (NYSE:PRG) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,700 shares of the company’s stock after acquiring an additional 4,500 shares during the period. TD Asset Management Inc’s holdings in PROG were worth $1,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of PROG in the fourth quarter worth about $12,666,000. Breach Inlet Capital Management LLC bought a new position in PROG in the 4th quarter valued at approximately $12,572,000. SG Capital Management LLC acquired a new stake in PROG in the first quarter valued at approximately $5,932,000. Jupiter Asset Management Ltd. grew its stake in shares of PROG by 83.6% during the first quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after buying an additional 118,698 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of PROG by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock worth $174,278,000 after buying an additional 105,101 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

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

PROG Trading Up 2.9 %

NYSE PRG opened at $46.35 on Friday. The firm has a market capitalization of $1.96 billion, a PE ratio of 18.92 and a beta of 2.11. The business’s 50-day moving average price is $41.79 and its two-hundred day moving average price is $36.76. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. PROG Holdings, Inc. has a 12 month low of $26.39 and a 12 month high of $47.85.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, July 24th. The company reported $0.92 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 for the quarter, compared to analysts’ expectations of $573.23 million. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, analysts expect that PROG Holdings, Inc. will post 3.34 EPS for the current year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio 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.