Meeder Asset Management Inc. Purchases Shares of 5,482 PROG Holdings, Inc. (NYSE:PRG)

Meeder Asset Management Inc. purchased a new stake in PROG Holdings, Inc. (NYSE:PRG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,482 shares of the company’s stock, valued at approximately $169,000.

Several other large investors have also modified their holdings of the company. Blue Trust Inc. bought a new stake in PROG during the 4th quarter valued at approximately $27,000. Lazard Asset Management LLC acquired a new position in shares of PROG during the fourth quarter worth approximately $30,000. BluePath Capital Management LLC bought a new stake in shares of PROG in the third quarter valued at approximately $31,000. Acadian Asset Management LLC acquired a new stake in shares of PROG in the third quarter worth $33,000. Finally, Tower Research Capital LLC TRC increased its position in PROG by 83.0% during the third quarter. Tower Research Capital LLC TRC now owns 3,836 shares of the company’s stock worth $57,000 after acquiring an additional 1,740 shares during the period. 97.92% of the stock is owned by institutional investors.

PROG Stock Up 0.4 %

Shares of PRG stock opened at $33.90 on Wednesday. PROG Holdings, Inc. has a one year low of $22.65 and a one year high of $44.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. The stock has a fifty day moving average price of $32.20 and a 200 day moving average price of $30.61. The stock has a market cap of $1.48 billion, a P/E ratio of 11.45 and a beta of 2.08.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The company had revenue of $577.40 million during the quarter, compared to the consensus estimate of $568.35 million. PROG had a net margin of 5.77% and a return on equity of 28.83%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. Analysts predict that PROG Holdings, Inc. will post 2.83 earnings per share for the current year.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 1.42%. PROG’s dividend payout ratio is currently 16.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRG. Stephens raised shares of PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. TD Cowen initiated coverage on shares of PROG in a research note on Friday, March 8th. They issued an “outperform” rating and a $37.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.

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.