PROG Holdings, Inc. (NYSE:PRG) Stock Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 538,472 shares of the company’s stock after selling 17,091 shares during the quarter. Federated Hermes Inc. owned 1.20% of PROG worth $16,644,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co boosted its position in shares of PROG by 6.2% during the 4th quarter. Diversified Trust Co now owns 6,760 shares of the company’s stock valued at $209,000 after purchasing an additional 397 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in PROG by 19.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after buying an additional 570 shares in the last quarter. Blue Trust Inc. bought a new stake in PROG during the fourth quarter worth approximately $27,000. BluePath Capital Management LLC acquired a new position in PROG in the third quarter worth approximately $31,000. Finally, Acadian Asset Management LLC bought a new position in shares of PROG in the third quarter valued at $33,000. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Price Performance

Shares of NYSE:PRG opened at $32.28 on Tuesday. The company’s fifty day moving average is $32.19 and its two-hundred day moving average is $30.61. The company has a market cap of $1.41 billion, a P/E ratio of 10.91 and a beta of 2.08. PROG Holdings, Inc. has a 12-month low of $24.50 and a 12-month high of $44.81. The company has a quick ratio of 1.49, a current ratio of 3.66 and a debt-to-equity ratio of 1.00.

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

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 annualized dividend and a yield of 1.49%. PROG’s dividend payout ratio is presently 16.22%.

Wall Street Analyst Weigh In

PRG has been the subject of several research reports. TD Cowen began coverage on PROG in a research note on Friday, March 8th. They set an “outperform” rating and a $37.00 price objective for the company. Stephens raised PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.