Barclays PLC Grows Stake in PROG Holdings, Inc. (NYSE:PRG)

Barclays PLC lifted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 24.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,086 shares of the company’s stock after buying an additional 6,661 shares during the quarter. Barclays PLC owned about 0.07% of PROG worth $1,096,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PRG. FMR LLC lifted its stake in shares of PROG by 195.0% during the 1st quarter. FMR LLC now owns 2,828,055 shares of the company’s stock valued at $67,279,000 after buying an additional 1,869,502 shares in the last quarter. Norges Bank bought a new stake in PROG during the 4th quarter worth approximately $16,483,000. Charles Schwab Investment Management Inc. increased its holdings in PROG by 143.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,267,221 shares of the company’s stock worth $30,147,000 after acquiring an additional 746,161 shares during the period. Goldman Sachs Group Inc. increased its holdings in PROG by 395.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company’s stock worth $23,765,000 after acquiring an additional 659,312 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in PROG by 37.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,129,384 shares of the company’s stock worth $35,966,000 after acquiring an additional 576,086 shares during the period. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

PROG Trading Up 3.6 %

Shares of PRG opened at $28.32 on Monday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 8.63, a PEG ratio of 0.71 and a beta of 2.12. The company has a quick ratio of 1.91, a current ratio of 3.76 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $30.26 and a two-hundred day simple moving average of $32.78. PROG Holdings, Inc. has a twelve month low of $16.47 and a twelve month high of $44.81.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.28. The business had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $570.10 million. PROG had a net margin of 6.40% and a return on equity of 30.59%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. On average, research analysts anticipate that PROG Holdings, Inc. will post 3.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRG shares. Stephens decreased their target price on shares of PROG from $68.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. KeyCorp decreased their target price on shares of PROG from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Jefferies Financial Group decreased their target price on shares of PROG from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Finally, Loop Capital decreased their price target on shares of PROG from $42.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, September 11th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.25.

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.