Blue Trust Inc. Increases Stock Position in PROG Holdings, Inc. (NYSE:PRG)

Blue Trust Inc. increased its position in PROG Holdings, Inc. (NYSE:PRG) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,691 shares of the company’s stock after acquiring an additional 1,027 shares during the period. Blue Trust Inc.’s holdings in PROG were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PRG. Life Planning Partners Inc bought a new stake in shares of PROG during the 4th quarter valued at $1,235,000. KBC Group NV boosted its holdings in shares of PROG by 53.9% during the 4th quarter. KBC Group NV now owns 2,015 shares of the company’s stock valued at $85,000 after purchasing an additional 706 shares during the last quarter. DGS Capital Management LLC boosted its holdings in shares of PROG by 2.0% during the 4th quarter. DGS Capital Management LLC now owns 53,038 shares of the company’s stock valued at $2,241,000 after purchasing an additional 1,034 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of PROG during the 4th quarter valued at about $290,000. Finally, Veracity Capital LLC purchased a new stake in shares of PROG during the 4th quarter valued at about $214,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

PROG Price Performance

PROG stock opened at $29.25 on Friday. The company’s 50 day simple moving average is $42.03 and its 200-day simple moving average is $44.87. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.10 and a beta of 2.18. PROG Holdings, Inc. has a 1 year low of $27.84 and a 1 year high of $50.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $623.30 million during the quarter, compared to analysts’ expectations of $612.67 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, equities research analysts expect that PROG Holdings, Inc. will post 3.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PRG shares. TD Cowen raised shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Thursday, October 24th. Finally, Stephens restated an “overweight” rating and issued a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.83.

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.