International Assets Investment Management LLC Buys New Shares in PROG Holdings, Inc. (NYSE:PRG)

International Assets Investment Management LLC acquired a new stake in PROG Holdings, Inc. (NYSE:PRG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 63,522 shares of the company’s stock, valued at approximately $3,080,000. International Assets Investment Management LLC owned 0.15% of PROG at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of PROG during the 3rd quarter worth about $26,000. GAMMA Investing LLC lifted its stake in shares of PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of PROG during the 2nd quarter worth about $47,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG during the 1st quarter worth about $59,000. Finally, Blue Trust Inc. lifted its stake in shares of PROG by 2,015.1% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after buying an additional 1,874 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Up 0.8 %

Shares of NYSE PRG opened at $44.03 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 12.20 and a beta of 2.11. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The company’s 50 day moving average price is $46.72 and its 200-day moving average price is $40.27.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $606.10 million for the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. Equities analysts forecast that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Announces Dividend

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 dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. PROG’s payout ratio is presently 13.30%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Thursday, October 24th. TD Cowen boosted their target price on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. KeyCorp boosted their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price target on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and lifted their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PROG currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

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.