PROG Holdings, Inc. (NYSE:PRG) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,342 shares of the company’s stock after selling 10,068 shares during the period. AQR Capital Management LLC owned 0.13% of PROG worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PRG. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PROG in the second quarter worth about $88,000. Cubist Systematic Strategies LLC purchased a new position in PROG in the 2nd quarter worth approximately $123,000. Point72 DIFC Ltd acquired a new stake in PROG in the second quarter valued at approximately $47,000. Public Sector Pension Investment Board raised its stake in shares of PROG by 3.6% during the second quarter. Public Sector Pension Investment Board now owns 95,016 shares of the company’s stock valued at $3,295,000 after purchasing an additional 3,342 shares during the period. Finally, Sei Investments Co. lifted its position in shares of PROG by 78.3% during the second quarter. Sei Investments Co. now owns 42,183 shares of the company’s stock worth $1,463,000 after purchasing an additional 18,518 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRG shares. TD Cowen lifted their price target 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 boosted their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Loop Capital upgraded 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 research note on Monday, August 19th. Finally, Jefferies Financial Group lifted their price objective on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.40.

PROG Stock Up 0.0 %

Shares of PROG stock opened at $48.14 on Thursday. The business has a 50-day moving average price of $45.71 and a 200 day moving average price of $38.78. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The firm has a market cap of $2.08 billion, a P/E ratio of 19.65 and a beta of 2.11. 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 (NYSE:PRG) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. On average, sell-side analysts forecast that PROG Holdings, Inc. will post 3.34 earnings per share for the current fiscal year.

PROG Dividend Announcement

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