Jupiter Asset Management Ltd. trimmed its stake in PROG Holdings, Inc. (NYSE:PRG – Free Report) by 46.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,211 shares of the company’s stock after selling 71,997 shares during the period. Jupiter Asset Management Ltd. owned about 0.18% of PROG worth $2,704,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Credit Suisse AG boosted its position in shares of PROG by 1.0% during the 3rd quarter. Credit Suisse AG now owns 62,429 shares of the company’s stock valued at $935,000 after acquiring an additional 622 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of PROG by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,646 shares of the company’s stock valued at $1,563,000 after acquiring an additional 666 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of PROG by 5.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the company’s stock valued at $787,000 after acquiring an additional 1,200 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of PROG by 1.7% during the 4th quarter. Alliancebernstein L.P. now owns 90,952 shares of the company’s stock valued at $1,536,000 after acquiring an additional 1,480 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of PROG by 6.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,504 shares of the company’s stock valued at $902,000 after acquiring an additional 1,728 shares in the last quarter. 95.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on PRG. Stephens decreased their target price on shares of PROG from $68.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Loop Capital decreased their target price on shares of PROG from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, September 11th. KeyCorp cut their price target on shares of PROG from $48.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Finally, Jefferies Financial Group cut their price target on shares of PROG from $49.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PROG currently has a consensus rating of “Moderate Buy” and an average price target of $40.25.
PROG Trading Up 3.6 %
Shares of PRG stock opened at $28.32 on Friday. PROG Holdings, Inc. has a 12-month low of $16.47 and a 12-month high of $44.81. The company has a market capitalization of $1.27 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.71 and a beta of 2.12. The firm has a 50-day moving average price of $30.26 and a 200 day moving average price of $32.75. The company has a quick ratio of 1.91, a current ratio of 3.76 and a debt-to-equity ratio of 0.99.
PROG (NYSE:PRG – Get Free Report) last announced its earnings results on Wednesday, October 25th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.28. PROG had a net margin of 6.40% and a return on equity of 30.59%. The company had revenue of $582.90 million during the quarter, compared to the consensus estimate of $570.10 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis. Research analysts forecast that PROG Holdings, Inc. will post 3.62 earnings per share for the current fiscal year.
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.
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