PROG Holdings, Inc. (NYSE:PRG) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in PROG Holdings, Inc. (NYSE:PRG) by 1.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,638,231 shares of the company’s stock after buying an additional 105,101 shares during the quarter. Vanguard Group Inc. owned approximately 12.91% of PROG worth $174,278,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Blue Trust Inc. bought a new stake in PROG in the fourth quarter valued at $27,000. Acadian Asset Management LLC acquired a new position in PROG during the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new position in PROG in the 4th quarter worth about $169,000. Diversified Trust Co increased its stake in shares of PROG by 6.2% in the fourth quarter. Diversified Trust Co now owns 6,760 shares of the company’s stock valued at $209,000 after purchasing an additional 397 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of PROG by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 12,895 shares of the company’s stock valued at $399,000 after buying an additional 1,694 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Stock Down 0.1 %

PRG opened at $33.77 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.83 and a current ratio of 3.91. The company has a market capitalization of $1.46 billion, a PE ratio of 13.78 and a beta of 2.10. The stock’s fifty day moving average is $35.29 and its 200-day moving average is $32.95. PROG Holdings, Inc. has a one year low of $26.39 and a one year high of $44.81.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $641.87 million for the quarter, compared to the consensus estimate of $632.24 million. PROG had a net margin of 4.71% and a return on equity of 26.67%. On average, equities analysts predict that PROG Holdings, Inc. will post 3 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, May 24th. PROG’s dividend payout ratio (DPR) is 19.59%.

Analyst Ratings Changes

PRG has been the topic of several analyst reports. TD Cowen raised their target price on PROG from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Loop Capital lifted their price objective on shares of PROG from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, BTIG Research initiated coverage on shares of PROG in a report on Friday, June 7th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PROG has an average rating of “Moderate Buy” and a consensus price target of $39.60.

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.