DekaBank Deutsche Girozentrale Takes Position in PROG Holdings, Inc. (NYSE:PRG)

DekaBank Deutsche Girozentrale acquired a new stake in PROG Holdings, Inc. (NYSE:PRG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,727 shares of the company’s stock, valued at approximately $83,000.

Several other hedge funds also recently bought and sold shares of PRG. D. E. Shaw & Co. Inc. lifted its stake in PROG by 0.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of PROG by 14.1% in the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after purchasing an additional 84,497 shares during the period. Clearbridge Investments LLC increased its holdings in shares of PROG by 2.3% in the first quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock worth $15,182,000 after purchasing an additional 9,807 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of PROG in the third quarter worth $19,079,000. Finally, Ceredex Value Advisors LLC boosted its stake in PROG by 1.3% during the second quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company’s stock valued at $10,111,000 after buying an additional 3,750 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Trading Up 0.8 %

PRG stock opened at $44.03 on Monday. The company has a market capitalization of $1.83 billion, a PE ratio of 12.20 and a beta of 2.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. PROG Holdings, Inc. has a one year low of $26.39 and a one year high of $50.28. The company’s 50 day moving average price is $46.72 and its two-hundred day moving average price is $40.34.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts predict that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal 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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s dividend payout ratio is presently 13.30%.

Analysts Set New Price Targets

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