Russell Investments Group Ltd. Sells 16,621 Shares of PROG Holdings, Inc. (NYSE:PRG)

Russell Investments Group Ltd. lowered its stake in PROG Holdings, Inc. (NYSE:PRG) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 193,738 shares of the company’s stock after selling 16,621 shares during the quarter. Russell Investments Group Ltd. owned about 0.43% of PROG worth $5,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Invesco Ltd. lifted its position in PROG by 15.7% in the 3rd quarter. Invesco Ltd. now owns 441,929 shares of the company’s stock valued at $14,676,000 after acquiring an additional 59,859 shares in the last quarter. Rip Road Capital Partners LP boosted its position in shares of PROG by 14.1% during the third quarter. Rip Road Capital Partners LP now owns 343,008 shares of the company’s stock worth $11,391,000 after buying an additional 42,300 shares during the period. Qube Research & Technologies Ltd grew its holdings in shares of PROG by 284.5% during the third quarter. Qube Research & Technologies Ltd now owns 266,456 shares of the company’s stock worth $8,849,000 after buying an additional 197,152 shares in the last quarter. Cambria Investment Management L.P. raised its position in PROG by 1,451.8% in the 3rd quarter. Cambria Investment Management L.P. now owns 210,054 shares of the company’s stock valued at $6,976,000 after buying an additional 196,518 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in PROG by 719.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock valued at $5,529,000 after acquiring an additional 157,024 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Trading Up 0.4 %

Shares of PROG stock opened at $35.03 on Thursday. The stock has a market cap of $1.51 billion, a P/E ratio of 14.21 and a beta of 2.06. The company has a quick ratio of 1.83, a current ratio of 3.91 and a debt-to-equity ratio of 1.01. PROG Holdings, Inc. has a 12-month low of $26.39 and a 12-month high of $44.81. The business’s 50 day moving average is $32.87 and its 200-day moving average is $30.91.

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

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. PROG’s payout ratio is 19.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRG shares. Loop Capital raised their price target on shares of PROG from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. TD Cowen raised their target price on shares of PROG from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, PROG has an average rating of “Moderate Buy” and an average price target 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.