PROG Holdings, Inc. (NYSE:PRG) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in PROG Holdings, Inc. (NYSE:PRG) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 24,152 shares of the company’s stock after selling 1,197 shares during the quarter. State of Alaska Department of Revenue’s holdings in PROG were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. boosted its position in PROG by 83.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after purchasing an additional 118,698 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in PROG by 45.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,994 shares of the company’s stock worth $2,199,000 after buying an additional 19,924 shares in the last quarter. Keeley Teton Advisors LLC grew its position in PROG by 35.3% during the first quarter. Keeley Teton Advisors LLC now owns 49,574 shares of the company’s stock valued at $1,707,000 after buying an additional 12,928 shares during the period. Sei Investments Co. purchased a new position in PROG in the first quarter valued at $815,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of PROG in the second quarter worth about $8,794,000. 97.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

PROG Stock Up 1.5 %

Shares of PRG opened at $44.71 on Tuesday. The stock has a 50 day moving average price of $46.67 and a 200 day moving average price of $40.44. PROG Holdings, Inc. has a one year low of $26.39 and a one year 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 stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.39 and a beta of 2.11.

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

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. PROG’s dividend payout ratio (DPR) is presently 13.30%.

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.