PROG Holdings, Inc. (NYSE:PRG) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its holdings in PROG Holdings, Inc. (NYSE:PRG) by 136.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,051 shares of the company’s stock after purchasing an additional 36,336 shares during the quarter. Algert Global LLC owned approximately 0.15% of PROG worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in PROG during the second quarter worth about $47,000. DekaBank Deutsche Girozentrale acquired a new stake in PROG during the first quarter worth about $59,000. Blue Trust Inc. increased its stake in PROG by 2,015.1% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after acquiring an additional 1,874 shares during the last quarter. nVerses Capital LLC acquired a new stake in PROG during the second quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in PROG during the second quarter worth about $88,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Trading Down 0.8 %

Shares of PRG opened at $46.90 on Thursday. The company has a market capitalization of $2.02 billion, a P/E ratio of 19.14 and a beta of 2.11. 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 1.02, a quick ratio of 1.80 and a current ratio of 3.87. The stock has a 50-day moving average price of $45.39 and a 200 day moving average price of $38.28.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The firm had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. PROG’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts forecast that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s dividend payout ratio is presently 19.59%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRG. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Jefferies Financial Group upped their price target on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen upped their target price on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BTIG Research began coverage on PROG in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, KeyCorp upped their target price on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PROG presently has an average rating of “Moderate Buy” and an average price target of $50.40.

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.