PROG Holdings, Inc. (NYSE:PRG) Stock Position Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in PROG Holdings, Inc. (NYSE:PRG) by 3.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,016 shares of the company’s stock after acquiring an additional 3,342 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of PROG worth $3,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in PROG during the 1st quarter worth about $59,000. Blue Trust Inc. increased its position in shares of PROG by 2,015.1% in 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 in the last quarter. nVerses Capital LLC purchased a new position in shares of PROG in the second quarter worth approximately $73,000. Meeder Asset Management Inc. raised its holdings in shares of PROG by 28.8% during the second quarter. Meeder Asset Management Inc. now owns 7,060 shares of the company’s stock valued at $245,000 after acquiring an additional 1,578 shares during the period. Finally, Diversified Trust Co lifted its position in shares of PROG by 8.4% in the 2nd quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock valued at $254,000 after acquiring an additional 569 shares in the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

PROG Trading Down 0.1 %

NYSE PRG opened at $48.19 on Friday. The company has a market capitalization of $2.04 billion, a PE ratio of 19.67 and a beta of 2.11. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. The firm’s fifty day simple moving average is $44.77 and its 200-day simple moving average is $37.91.

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

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio is 19.59%.

PROG 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.