Massachusetts Financial Services Co. MA Has $2.38 Million Holdings in PROG Holdings, Inc. (NYSE:PRG)

Massachusetts Financial Services Co. MA increased its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,703 shares of the company’s stock after buying an additional 2,307 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.16% of PROG worth $2,383,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG during the first quarter worth approximately $59,000. Blue Trust Inc. raised its position in PROG by 2,015.1% in the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $68,000 after purchasing an additional 1,874 shares during the last quarter. nVerses Capital LLC acquired a new position in PROG in the second quarter worth $73,000. Meeder Asset Management Inc. grew its holdings in shares of PROG by 28.8% during the second quarter. Meeder Asset Management Inc. now owns 7,060 shares of the company’s stock worth $245,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of PROG by 8.4% in the second quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock valued at $254,000 after buying an additional 569 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Trading Up 1.4 %

Shares of NYSE PRG opened at $49.49 on Monday. The company’s 50 day simple moving average is $43.30 and its 200 day simple moving average is $37.35. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The firm has a market capitalization of $2.14 billion, a P/E ratio of 20.20 and a beta of 2.11.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business had revenue of $592.16 million during the quarter, compared to analysts’ expectations of $573.23 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts predict that PROG Holdings, Inc. will post 3.34 EPS for the current year.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio is currently 19.59%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PRG shares. BTIG Research initiated coverage on shares of PROG in a research report on Friday, June 7th. They set a “neutral” rating on the stock. TD Cowen increased their price target on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, KeyCorp increased their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.20.

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.