PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its holdings in PROG Holdings, Inc. (NYSE:PRG) by 23.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,105 shares of the company’s stock after selling 10,214 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.08% of PROG worth $1,605,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRG. Texas Permanent School Fund Corp lifted its holdings in shares of PROG by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock valued at $1,348,000 after buying an additional 525 shares during the period. Empowered Funds LLC raised its holdings in PROG by 100.7% during the first quarter. Empowered Funds LLC now owns 98,433 shares of the company’s stock worth $3,390,000 after purchasing an additional 49,384 shares during the last quarter. Sei Investments Co. acquired a new position in PROG during the first quarter worth $815,000. Inspire Advisors LLC acquired a new position in PROG during the first quarter worth $256,000. Finally, ProShare Advisors LLC raised its holdings in PROG by 7.3% during the first quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock worth $308,000 after purchasing an additional 612 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

PROG Stock Performance

PROG stock opened at $47.92 on Friday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 13.27 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 fifty-two week low of $26.39 and a fifty-two week high of $50.28. The stock has a fifty day moving average of $46.73 and a two-hundred day moving average of $40.81.

PROG (NYSE:PRG) last announced its quarterly earnings data 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 the consensus estimate of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, November 19th. PROG’s dividend payout ratio is currently 13.30%.

PROG Company 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.