Norges Bank Invests $12.67 Million in PROG Holdings, Inc. (NYSE:PRG)

Norges Bank acquired a new position in shares of PROG Holdings, Inc. (NYSE:PRGFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 409,771 shares of the company’s stock, valued at approximately $12,666,000. Norges Bank owned about 0.92% of PROG as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRG. Janney Montgomery Scott LLC bought a new stake in PROG during the fourth quarter worth about $430,000. Massachusetts Financial Services Co. MA boosted its stake in PROG by 218.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,542 shares of the company’s stock worth $2,057,000 after buying an additional 45,631 shares in the last quarter. Summit Global Investments grew its position in PROG by 31.0% during the fourth quarter. Summit Global Investments now owns 45,562 shares of the company’s stock valued at $1,408,000 after acquiring an additional 10,782 shares during the last quarter. Los Angeles Capital Management LLC grew its position in PROG by 4.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 47,656 shares of the company’s stock valued at $1,473,000 after acquiring an additional 1,911 shares during the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of PROG by 14.7% during the fourth quarter. Yousif Capital Management LLC now owns 25,999 shares of the company’s stock worth $804,000 after acquiring an additional 3,330 shares in the last quarter. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

PROG Trading Down 1.0 %

Shares of PRG opened at $36.62 on Wednesday. The firm has a fifty day simple moving average of $34.33 and a two-hundred day simple moving average of $31.98. PROG Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $44.81. The stock has a market capitalization of $1.58 billion, a P/E ratio of 14.95 and a beta of 2.12. The company has a quick ratio of 1.83, a current ratio of 3.91 and a debt-to-equity ratio of 1.01.

PROG (NYSE:PRGGet Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. The firm had revenue of $641.87 million for the quarter, compared to analysts’ expectations of $632.24 million. PROG had a return on equity of 26.67% and a net margin of 4.71%. On average, research analysts anticipate that PROG Holdings, Inc. will post 3 EPS for the current year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. PROG’s payout ratio is 19.59%.

Analyst Ratings Changes

Several research firms recently commented on PRG. TD Cowen increased their target price on shares of PROG from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Loop Capital raised their price objective on PROG from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.60.

View Our Latest Stock Report on PROG

PROG Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROG Holdings, Inc. (NYSE:PRGFree Report).

Institutional Ownership by Quarter for PROG (NYSE:PRG)

Receive News & Ratings for PROG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PROG and related companies with MarketBeat.com's FREE daily email newsletter.