PROG Holdings, Inc. (NYSE:PRG) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in PROG Holdings, Inc. (NYSE:PRG) by 72.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,746 shares of the company’s stock after acquiring an additional 67,118 shares during the quarter. Teacher Retirement System of Texas’ holdings in PROG were worth $6,751,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC lifted its holdings in PROG by 1.3% in the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after acquiring an additional 30,030 shares during the period. State Street Corp raised its stake in shares of PROG by 6.9% during the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after buying an additional 114,498 shares during the period. Allianz Asset Management GmbH raised its stake in shares of PROG by 36.8% during the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock worth $32,951,000 after buying an additional 209,805 shares during the period. Wellington Management Group LLP raised its stake in shares of PROG by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after buying an additional 6,517 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of PROG by 9.9% during the 4th quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company’s stock worth $15,951,000 after buying an additional 34,020 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRG. Stephens reaffirmed an “overweight” rating and set a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and reduced their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Finally, TD Cowen raised PROG to a “strong-buy” rating in a research note on Friday, November 29th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

PROG Stock Down 0.0 %

NYSE PRG opened at $27.17 on Monday. The business has a fifty day moving average price of $35.83 and a 200 day moving average price of $42.42. PROG Holdings, Inc. has a one year low of $25.93 and a one year high of $50.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. The company has a market cap of $1.11 billion, a P/E ratio of 5.98 and a beta of 2.14.

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 company had revenue of $623.30 million during the quarter, compared to analysts’ expectations of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Research analysts anticipate that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th will be issued a $0.13 dividend. This is a boost from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 13th. PROG’s dividend payout ratio is presently 10.57%.

Insider Buying and Selling at PROG

In related news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the acquisition, the director now directly owns 18,291 shares in the company, valued at $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas C. Curling purchased 10,000 shares of the stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the acquisition, the director now owns 45,913 shares in the company, valued at approximately $1,371,880.44. This trade represents a 27.85 % increase in their position. The disclosure for this purchase can be found here. 2.74% of the stock is owned by company insiders.

About PROG

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.