Financial Management Professionals Inc. Takes Position in PROG Holdings, Inc. (NYSE:PRG)

Financial Management Professionals Inc. acquired a new stake in shares of PROG Holdings, Inc. (NYSE:PRG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 672 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. acquired a new position in shares of PROG during the 3rd quarter valued at about $26,000. GAMMA Investing LLC increased its holdings in shares of PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after acquiring an additional 337 shares during the last quarter. Point72 DIFC Ltd bought a new stake in PROG during the 2nd quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale bought a new stake in PROG during the 1st quarter valued at approximately $59,000. Finally, Blue Trust Inc. boosted its stake in PROG by 2,015.1% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $68,000 after purchasing an additional 1,874 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Price Performance

Shares of NYSE:PRG opened at $42.09 on Monday. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The firm has a market capitalization of $1.82 billion, a PE ratio of 17.18 and a beta of 2.11. The business’s 50 day moving average is $46.97 and its 200-day moving average is $39.92. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The company had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. PROG’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. Sell-side analysts predict that PROG Holdings, Inc. will post 3.34 earnings per share for the current year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio is 19.59%.

Wall Street Analyst Weigh In

PRG has been the subject of several recent analyst reports. TD Cowen increased their target price on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Thursday. Jefferies Financial Group increased their target price on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and increased their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, KeyCorp increased their target price on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.