Guidance Capital Inc. Lowers Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Guidance Capital Inc. decreased its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,447 shares of the company’s stock after selling 1,211 shares during the quarter. Guidance Capital Inc.’s holdings in PROG were worth $697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after acquiring an additional 337 shares during the last quarter. Diversified Trust Co raised its stake in PROG by 7.1% during the third quarter. Diversified Trust Co now owns 7,849 shares of the company’s stock valued at $381,000 after purchasing an additional 520 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in PROG by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock valued at $1,348,000 after purchasing an additional 525 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of PROG by 4.2% in the third quarter. Inspire Advisors LLC now owns 12,884 shares of the company’s stock valued at $625,000 after acquiring an additional 525 shares during the period. Finally, Whittier Trust Co. purchased a new stake in shares of PROG in the third quarter valued at $26,000. Institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their target price 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. Jefferies Financial Group increased their target price on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. KeyCorp raised their price target 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. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and raised their price target for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.40.

PROG Stock Down 8.7 %

NYSE PRG traded down $4.09 during trading on Wednesday, reaching $42.88. 172,486 shares of the company’s stock traded hands, compared to its average volume of 407,779. The company’s 50 day simple moving average is $46.87 and its two-hundred day simple moving average is $39.63. PROG Holdings, Inc. has a 12-month low of $26.39 and a 12-month high of $50.28. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 17.62 and a beta of 2.11. 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 (NYSE:PRG) last issued 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. The company had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. PROG’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, sell-side analysts forecast that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is 19.59%.

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.