Victory Capital Management Inc. Has $1.73 Million Stock Position in PROG Holdings, Inc. (NYSE:PRG)

Victory Capital Management Inc. decreased its stake in PROG Holdings, Inc. (NYSE:PRG) by 42.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,835 shares of the company’s stock after selling 36,034 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of PROG worth $1,728,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. TD Asset Management Inc boosted its stake in PROG by 14.4% during the second quarter. TD Asset Management Inc now owns 35,700 shares of the company’s stock worth $1,238,000 after buying an additional 4,500 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in PROG during the second quarter worth $1,089,000. Guidance Capital Inc. boosted its stake in PROG by 7.0% during the second quarter. Guidance Capital Inc. now owns 15,658 shares of the company’s stock worth $543,000 after buying an additional 1,029 shares in the last quarter. nVerses Capital LLC acquired a new stake in PROG during the second quarter worth $73,000. Finally, Panagora Asset Management Inc. boosted its stake in PROG by 6.0% during the second quarter. Panagora Asset Management Inc. now owns 116,027 shares of the company’s stock worth $4,024,000 after buying an additional 6,516 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

Analysts Set New Price Targets

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

PROG Stock Performance

PROG stock opened at $47.35 on Thursday. The stock has a 50-day simple moving average of $42.66 and a 200 day simple moving average of $37.11. The company has a quick ratio of 1.80, a current ratio of 3.87 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 $47.94. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 19.33 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 analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $592.16 million during the quarter, compared to analysts’ expectations of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 earnings per share. On average, research analysts anticipate that PROG Holdings, Inc. will post 3.34 earnings per share for the current fiscal year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 1.01%. PROG’s dividend payout ratio is currently 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.