PROG Holdings, Inc. (NYSE:PRG) Position Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in PROG Holdings, Inc. (NYSE:PRG) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,716 shares of the company’s stock after selling 878 shares during the quarter. New York State Common Retirement Fund owned 0.42% of PROG worth $5,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of PROG by 152.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 63,390 shares of the company’s stock valued at $2,105,000 after buying an additional 38,244 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PROG by 27.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,310 shares of the company’s stock valued at $309,000 after purchasing an additional 2,020 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of PROG during the third quarter valued at $31,000. Allspring Global Investments Holdings LLC boosted its position in shares of PROG by 33.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 145,706 shares of the company’s stock valued at $4,839,000 after purchasing an additional 36,776 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in PROG in the 3rd quarter worth about $236,000. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Price Performance

NYSE PRG opened at $34.48 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.91 and a quick ratio of 1.83. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.07 and a beta of 2.06. The company has a 50 day simple moving average of $32.57 and a 200-day simple moving average of $30.80. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $44.81.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. PROG had a net margin of 4.71% and a return on equity of 26.67%. The company had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. Equities research analysts predict that PROG Holdings, Inc. will post 3 earnings per share for the current fiscal year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. PROG’s dividend payout ratio (DPR) is currently 19.59%.

Analyst Ratings Changes

A number of research firms have commented on PRG. Loop Capital upped their price objective on shares of PROG from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. TD Cowen raised their price objective on shares of PROG from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

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.