New York State Teachers Retirement System Sells 3,800 Shares of PROG Holdings, Inc. (NYSE:PRG)

New York State Teachers Retirement System trimmed its holdings in PROG Holdings, Inc. (NYSE:PRG) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,881 shares of the company’s stock after selling 3,800 shares during the quarter. New York State Teachers Retirement System owned about 0.17% of PROG worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in PROG during the 1st quarter valued at about $4,770,000. MetLife Investment Management LLC boosted its holdings in shares of PROG by 30.3% during the 1st quarter. MetLife Investment Management LLC now owns 65,818 shares of the company’s stock valued at $1,894,000 after acquiring an additional 15,302 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of PROG by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,787 shares of the company’s stock valued at $598,000 after acquiring an additional 1,982 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of PROG by 6.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,504 shares of the company’s stock valued at $902,000 after acquiring an additional 1,728 shares during the last quarter. Finally, Ergoteles LLC boosted its holdings in shares of PROG by 55.0% during the 1st quarter. Ergoteles LLC now owns 36,717 shares of the company’s stock valued at $1,056,000 after acquiring an additional 13,026 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRG has been the topic of a number of recent analyst reports. Stephens raised shares of PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. TD Cowen started coverage on shares of PROG in a report on Friday, March 8th. They issued an “outperform” rating and a $37.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PROG currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

PROG Trading Down 0.4 %

PROG stock opened at $31.53 on Tuesday. The stock has a market cap of $1.38 billion, a P/E ratio of 10.65 and a beta of 2.08. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. PROG Holdings, Inc. has a 1 year low of $24.28 and a 1 year high of $44.81. The firm’s 50 day moving average price is $32.28 and its 200-day moving average price is $30.61.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. PROG had a net margin of 5.77% and a return on equity of 28.83%. The firm had revenue of $577.40 million for the quarter, compared to analysts’ expectations of $568.35 million. During the same quarter last year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, equities analysts predict that PROG Holdings, Inc. will post 2.83 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s dividend payout ratio is presently 16.22%.

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.