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

Arizona State Retirement System trimmed its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,778 shares of the company’s stock after selling 531 shares during the period. Arizona State Retirement System’s holdings in PROG were worth $395,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PRG. Norges Bank acquired a new stake in PROG during the 4th quarter valued at $16,483,000. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $30,147,000 after acquiring an additional 746,161 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in PROG by 395.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company’s stock valued at $23,765,000 after acquiring an additional 659,312 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake 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 valued at $35,966,000 after acquiring an additional 576,086 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in PROG by 95.2% during the 4th quarter. JPMorgan Chase & Co. now owns 911,986 shares of the company’s stock valued at $15,403,000 after acquiring an additional 444,737 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Trading Up 3.7 %

PROG stock opened at $32.01 on Friday. The firm’s 50-day moving average is $32.21 and its 200-day moving average is $30.60. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.49 and a current ratio of 3.66. PROG Holdings, Inc. has a 1 year low of $24.28 and a 1 year high of $44.81. The company has a market cap of $1.40 billion, a P/E ratio of 10.81 and a beta of 2.08.

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

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.50%. PROG’s payout ratio is currently 16.22%.

Analyst Ratings Changes

PRG has been the topic of a number of research analyst reports. TD Cowen initiated coverage on shares of PROG in a research note on Friday, March 8th. They set an “outperform” rating and a $37.00 price objective on the stock. Stephens upgraded shares of PROG from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

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.