PROG Holdings, Inc. (NYSE:PRG) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its holdings in PROG Holdings, Inc. (NYSE:PRG) by 14.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 684,705 shares of the company’s stock after buying an additional 84,497 shares during the period. American Century Companies Inc. owned about 1.59% of PROG worth $23,746,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PRG. DekaBank Deutsche Girozentrale bought a new position in PROG during the 1st quarter worth $59,000. Blue Trust Inc. grew its position in shares of PROG by 2,015.1% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after acquiring an additional 1,874 shares during the last quarter. nVerses Capital LLC bought a new position in shares of PROG during the second quarter worth about $73,000. Diversified Trust Co increased its holdings in shares of PROG by 8.4% in the 2nd quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock worth $254,000 after acquiring an additional 569 shares during the period. Finally, Inspire Advisors LLC bought a new stake in PROG in the 1st quarter valued at about $256,000. Institutional investors own 97.92% of the company’s stock.

PROG Stock Performance

Shares of NYSE PRG opened at $48.82 on Friday. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $49.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87. The stock has a fifty day moving average price of $42.66 and a two-hundred day moving average price of $37.11. The firm has a market cap of $2.11 billion, a P/E ratio of 19.93 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, topping 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 firm had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. During the same period in the previous year, the company earned $0.92 earnings per share. PROG’s revenue was down .1% compared to the same quarter last year. Research analysts forecast that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The firm 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 annualized dividend and a yield of 0.98%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio is presently 19.59%.

Analyst Upgrades and Downgrades

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

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.