PROG Holdings, Inc. (NYSE:PRG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 76,881 shares of the company’s stock after selling 3,800 shares during the quarter. New York State Teachers Retirement System’s holdings in PROG were worth $2,376,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bank of Montreal Can purchased a new position in PROG during the first quarter worth about $4,770,000. MetLife Investment Management LLC lifted its position in PROG by 30.3% during the first quarter. MetLife Investment Management LLC now owns 65,818 shares of the company’s stock worth $1,894,000 after buying an additional 15,302 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in PROG by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,787 shares of the company’s stock worth $598,000 after buying an additional 1,982 shares during the period. Great West Life Assurance Co. Can lifted its position in PROG by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 30,504 shares of the company’s stock worth $902,000 after buying an additional 1,728 shares during the period. Finally, Ergoteles LLC lifted its position in PROG by 55.0% during the first quarter. Ergoteles LLC now owns 36,717 shares of the company’s stock worth $1,056,000 after buying an additional 13,026 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Stock Performance

PROG stock opened at $31.53 on Tuesday. The stock’s 50-day moving average is $32.28 and its 200-day moving average is $30.61. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 10.65 and a beta of 2.08. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. PROG Holdings, Inc. has a 12 month low of $24.28 and a 12 month high of $44.81.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.67 by $0.05. The business had revenue of $577.40 million for the quarter, compared to the consensus estimate of $568.35 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Equities analysts anticipate that PROG Holdings, Inc. will post 2.83 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. PROG’s dividend payout ratio (DPR) is presently 16.22%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRG. Stephens upgraded PROG from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 2nd. TD Cowen started coverage on PROG in a research report on Friday, March 8th. They set an “outperform” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.60.

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.