Point72 Asia Singapore Pte. Ltd. Buys Shares of 2,543 PROG Holdings, Inc. (NYSE:PRG)

Point72 Asia Singapore Pte. Ltd. bought a new position in PROG Holdings, Inc. (NYSE:PRG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,543 shares of the company’s stock, valued at approximately $88,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in PROG by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock valued at $174,278,000 after purchasing an additional 105,101 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of PROG by 6.5% in the 4th quarter. Vulcan Value Partners LLC now owns 1,021,463 shares of the company’s stock valued at $31,573,000 after buying an additional 62,255 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in PROG by 0.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after acquiring an additional 6,803 shares during the period. American Century Companies Inc. raised its position in PROG by 14.1% during the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock valued at $23,746,000 after acquiring an additional 84,497 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in PROG by 2.3% in the first quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock valued at $15,182,000 after acquiring an additional 9,807 shares during the period. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PRG shares. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Jefferies Financial Group lifted their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp increased their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. TD Cowen lifted their price target on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, BTIG Research started coverage on PROG in a research report on Friday, June 7th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PROG presently has an average rating of “Moderate Buy” and a consensus price target of $50.40.

PROG Trading Up 3.6 %

PRG stock opened at $47.87 on Friday. PROG Holdings, Inc. has a 12-month low of $26.39 and a 12-month high of $50.28. The business’s 50-day moving average is $45.47 and its 200 day moving average is $38.33. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 19.54 and a beta of 2.11.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (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 firm had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. During the same period in the previous year, the company posted $0.92 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is 19.59%.

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.