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

Louisiana State Employees Retirement System lowered its position in PROG Holdings, Inc. (NYSE:PRG) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,700 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System owned approximately 0.05% of PROG worth $753,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PRG. Comerica Bank increased its position in shares of PROG by 0.6% in the fourth quarter. Comerica Bank now owns 62,643 shares of the company’s stock valued at $1,936,000 after buying an additional 393 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in PROG by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock valued at $1,348,000 after acquiring an additional 525 shares during the last quarter. Diversified Trust Co increased its holdings in PROG by 8.4% during the 2nd quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock valued at $254,000 after acquiring an additional 569 shares in the last quarter. ProShare Advisors LLC raised its position in PROG by 7.3% during the first quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock worth $308,000 after acquiring an additional 612 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of PROG in the first quarter valued at about $59,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Stock Down 0.1 %

Shares of NYSE PRG opened at $46.91 on Friday. The firm has a market cap of $2.03 billion, a P/E ratio of 19.15 and a beta of 2.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $47.85. The firm’s 50 day moving average price is $39.28 and its 200 day moving average price is $35.61.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to analysts’ expectations of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. As a group, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.34 earnings per share for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is 19.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PRG shares. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp raised their price target on PROG from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BTIG Research initiated coverage on PROG in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, TD Cowen lifted their price objective on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and an average target price of $45.40.

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.