Public Employees Retirement Association of Colorado Sells 333 Shares of PROG Holdings, Inc. (NYSE:PRG)

Public Employees Retirement Association of Colorado reduced its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,677 shares of the company’s stock after selling 333 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PROG were worth $197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PRG. Norges Bank bought a new stake in PROG during the 4th quarter worth about $12,666,000. Breach Inlet Capital Management LLC acquired a new position in PROG in the fourth quarter valued at approximately $12,572,000. Diversify Wealth Management LLC bought a new position in PROG in the second quarter valued at approximately $8,794,000. SG Capital Management LLC bought a new position in PROG in the first quarter valued at approximately $5,932,000. Finally, Fourth Sail Capital LP acquired a new stake in PROG during the 2nd quarter worth $5,500,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Stock Down 0.1 %

Shares of PROG stock opened at $48.19 on Monday. The firm has a market cap of $2.08 billion, a PE ratio of 19.67 and a beta of 2.11. The business’s 50 day simple moving average is $44.77 and its 200 day simple moving average is $37.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28.

PROG (NYSE:PRG) last posted its quarterly earnings data 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. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, analysts predict 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. Investors of record on Tuesday, August 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio is currently 19.59%.

Analysts Set New Price Targets

PRG has been the topic of several recent research reports. BTIG Research began coverage on PROG in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and upped their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp lifted their price target 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. Finally, TD Cowen raised 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. One research 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 company has a consensus rating of “Moderate Buy” and an average price target of $47.20.

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.