PROG Holdings, Inc $PRG Shares Purchased by CenterBook Partners LP

CenterBook Partners LP lifted its stake in shares of PROG Holdings, Inc (NYSE:PRG) by 531.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 234,236 shares of the fintech holding company’s stock after purchasing an additional 197,170 shares during the period. CenterBook Partners LP’s holdings in PROG were worth $7,243,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of PROG by 588.0% in the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock valued at $24,100,000 after buying an additional 717,932 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in PROG during the second quarter worth $31,229,000. Ancora Advisors LLC acquired a new stake in PROG in the second quarter valued at $22,288,000. Wellington Management Group LLP lifted its stake in PROG by 12.5% in the second quarter. Wellington Management Group LLP now owns 697,324 shares of the fintech holding company’s stock valued at $32,502,000 after acquiring an additional 77,291 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in PROG by 143.0% in the second quarter. Squarepoint Ops LLC now owns 107,278 shares of the fintech holding company’s stock valued at $5,000,000 after acquiring an additional 63,128 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Stock Performance

PRG stock traded down $1.24 during mid-day trading on Friday, hitting $37.62. 616,004 shares of the company were exchanged, compared to its average volume of 784,956. The business has a 50 day simple moving average of $33.91 and a 200-day simple moving average of $35.78. The company has a current ratio of 3.81, a quick ratio of 2.25 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.50 billion, a PE ratio of 10.14 and a beta of 1.83. PROG Holdings, Inc has a 1-year low of $25.18 and a 1-year high of $47.73.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 28th. The fintech holding company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). PROG had a return on equity of 22.01% and a net margin of 5.46%. The firm had revenue of $725.78 million for the quarter, compared to the consensus estimate of $735.28 million. On average, equities analysts forecast that PROG Holdings, Inc will post 4.77 earnings per share for the current year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 17th. PROG’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Jefferies Financial Group cut their target price on shares of PROG from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, October 8th. Stephens lowered their price target on PROG from $55.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Finally, Zacks Research lowered PROG from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.38.

About PROG

PROG Holdings, Inc is a financial technology company that provides consumer payment and lease-to-own solutions through its operating businesses. Its services are designed to help consumers acquire household goods and other merchandise through retail stores, e-commerce websites and other merchant channels.

The company’s primary business is Progressive Leasing, a lease-to-own provider that gives consumers an alternative to traditional credit when purchasing products such as furniture, appliances, electronics, mattresses and other household merchandise.