PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,231 shares of the company’s stock after selling 521 shares during the period. Amalgamated Bank’s holdings in PROG were worth $459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG during the first quarter worth $59,000. Blue Trust Inc. raised its holdings in shares of PROG by 2,015.1% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after purchasing an additional 1,874 shares during the period. nVerses Capital LLC acquired a new stake in shares of PROG during the second quarter worth $73,000. Meeder Asset Management Inc. grew its position in shares of PROG by 28.8% during the second quarter. Meeder Asset Management Inc. now owns 7,060 shares of the company’s stock worth $245,000 after acquiring an additional 1,578 shares during the last quarter. Finally, Diversified Trust Co grew its position in shares of PROG by 8.4% during the second quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock worth $254,000 after acquiring an additional 569 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Stock Performance

Shares of PRG opened at $48.19 on Monday. The firm has a 50-day moving average price of $44.77 and a 200 day moving average price of $37.99. The firm has a market capitalization of $2.08 billion, a PE ratio of 19.67 and a beta of 2.11. The company has a quick ratio of 1.80, a current ratio of 3.87 and a debt-to-equity ratio of 1.02. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The firm had revenue of $592.16 million during the quarter, compared to analyst estimates of $573.23 million. During the same quarter in the prior year, the firm posted $0.92 EPS. PROG’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.34 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. PROG’s dividend payout ratio (DPR) is 19.59%.

Analysts Set New Price Targets

Several research firms have recently commented on PRG. KeyCorp upped their price target on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. TD Cowen upped their price target on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BTIG Research began coverage on shares of PROG in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, PROG presently has a consensus rating of “Moderate Buy” and an average price target of $47.20.

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.