Burney Co. Purchases 16,810 Shares of PROG Holdings, Inc. (NYSE:PRG)

Burney Co. raised its position in PROG Holdings, Inc. (NYSE:PRG) by 24.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,401 shares of the company’s stock after acquiring an additional 16,810 shares during the quarter. Burney Co. owned approximately 0.20% of PROG worth $2,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of PROG in the 1st quarter worth $59,000. Blue Trust Inc. increased its position in PROG by 2,015.1% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after buying an additional 1,874 shares in the last quarter. Diversified Trust Co raised its stake in shares of PROG by 8.4% in the second quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock worth $254,000 after buying an additional 569 shares during the period. Inspire Advisors LLC purchased a new position in shares of PROG during the 1st quarter valued at about $256,000. Finally, ProShare Advisors LLC lifted its position in shares of PROG by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock valued at $308,000 after buying an additional 612 shares in the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRG has been the topic of a number of recent analyst reports. KeyCorp raised their target price on shares of PROG from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their price objective on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, BTIG Research began coverage on PROG in a research note on Friday, June 7th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.40.

PROG Price Performance

Shares of PRG stock traded down $0.44 during mid-day trading on Thursday, hitting $46.50. The company had a trading volume of 288,960 shares, compared to its average volume of 417,866. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. The stock’s 50 day moving average price is $39.05 and its 200-day moving average price is $35.54. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $47.85. The company has a market capitalization of $2.01 billion, a P/E ratio of 19.15 and a beta of 2.09.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to analysts’ expectations of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. Equities research analysts forecast that PROG Holdings, Inc. will post 3.34 earnings per share for the current year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, August 20th. PROG’s dividend payout ratio is presently 19.59%.

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.