PROG Holdings, Inc. (NYSE:PRG) Stock Holdings Increased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. increased its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 896,075 shares of the company’s stock after buying an additional 6,803 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in PROG were worth $31,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of PROG during the 4th quarter valued at $430,000. Norges Bank purchased a new position in PROG in the fourth quarter valued at about $12,666,000. Allianz Asset Management GmbH increased its position in PROG by 31.8% in the 4th quarter. Allianz Asset Management GmbH now owns 290,107 shares of the company’s stock worth $8,967,000 after purchasing an additional 69,948 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of PROG by 187.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 27,694 shares of the company’s stock worth $856,000 after purchasing an additional 18,050 shares in the last quarter. Finally, Vulcan Value Partners LLC lifted its holdings in shares of PROG by 6.5% during the 4th quarter. Vulcan Value Partners LLC now owns 1,021,463 shares of the company’s stock valued at $31,573,000 after buying an additional 62,255 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Stock Down 0.1 %

PROG stock opened at $48.19 on Friday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 19.67 and a beta of 2.11. The firm has a fifty day moving average price of $44.77 and a two-hundred day moving average price of $37.95. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, analysts forecast that PROG Holdings, Inc. will post 3.34 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 paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date was Tuesday, August 20th. PROG’s payout ratio is currently 19.59%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRG shares. TD Cowen increased their price objective on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BTIG Research initiated coverage on shares of PROG in a report on Friday, June 7th. They set a “neutral” rating on the stock. KeyCorp upped their price objective on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their target price 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 five have issued a buy rating to the company’s stock. According to data from MarketBeat, PROG currently has an average rating of “Moderate Buy” and a consensus 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.