Louisiana State Employees Retirement System Invests $692,000 in PROG Holdings, Inc. (NYSE:PRG)

Louisiana State Employees Retirement System acquired a new position in shares of PROG Holdings, Inc. (NYSE:PRG) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,400 shares of the company’s stock, valued at approximately $692,000. Louisiana State Employees Retirement System owned approximately 0.05% of PROG as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of PROG by 15.7% in the 3rd quarter. Invesco Ltd. now owns 441,929 shares of the company’s stock valued at $14,676,000 after purchasing an additional 59,859 shares during the last quarter. Rip Road Capital Partners LP lifted its holdings in shares of PROG by 14.1% in the 3rd quarter. Rip Road Capital Partners LP now owns 343,008 shares of the company’s stock valued at $11,391,000 after purchasing an additional 42,300 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of PROG by 284.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 266,456 shares of the company’s stock valued at $8,849,000 after purchasing an additional 197,152 shares during the last quarter. Cambria Investment Management L.P. lifted its holdings in shares of PROG by 1,451.8% in the 3rd quarter. Cambria Investment Management L.P. now owns 210,054 shares of the company’s stock valued at $6,976,000 after purchasing an additional 196,518 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PROG by 719.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock valued at $5,529,000 after purchasing an additional 157,024 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Loop Capital boosted their target price on PROG from $31.00 to $35.00 and gave the company a “hold” rating in a report on Thursday. Stephens raised PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. Finally, TD Cowen boosted their target price on PROG from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

PROG Stock Down 2.6 %

PRG opened at $34.02 on Friday. The business has a 50 day moving average price of $32.36 and a two-hundred day moving average price of $30.71. The company has a quick ratio of 1.49, a current ratio of 3.91 and a debt-to-equity ratio of 1.01. The company has a market cap of $1.49 billion, a PE ratio of 13.89 and a beta of 2.08. PROG Holdings, Inc. has a 52 week low of $26.39 and a 52 week high of $44.81.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The firm had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. PROG had a return on equity of 26.67% and a net margin of 4.71%. As a group, research analysts anticipate that PROG Holdings, Inc. will post 3 EPS for the current year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio (DPR) is 19.59%.

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.