PROG Holdings, Inc $PRG Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in shares of PROG Holdings, Inc (NYSE:PRG - Free Report) by 588.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 840,029 shares of the fintech holding company's stock after buying an additional 717,932 shares during the period. First Trust Advisors LP owned about 2.10% of PROG worth $24,100,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PRG. Quarry LP grew its holdings in PROG by 82.8% during the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company's stock worth $33,000 after acquiring an additional 506 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of PROG during the 1st quarter worth $38,000. Federation des caisses Desjardins du Quebec purchased a new stake in shares of PROG during the 4th quarter worth $44,000. GAMMA Investing LLC grew its stake in shares of PROG by 45.3% during the 4th quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company's stock worth $53,000 after purchasing an additional 563 shares during the period. Finally, WealthCollab LLC grew its stake in shares of PROG by 61.9% during the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company's stock worth $61,000 after purchasing an additional 800 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRG has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of PROG from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Stephens increased their target price on shares of PROG from $40.00 to $47.50 and gave the company an "overweight" rating in a report on Thursday, April 30th. Raymond James Financial restated an "outperform" rating and issued a $45.00 price target on shares of PROG in a report on Thursday, April 30th. TD Cowen raised their price objective on PROG from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Finally, B. Riley Financial reiterated a "buy" rating on shares of PROG in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, PROG currently has a consensus rating of "Moderate Buy" and an average target price of $47.36.

PROG Stock Up 4.1%

Shares of NYSE PRG opened at $45.07 on Wednesday. The firm's 50-day moving average is $40.61 and its two-hundred day moving average is $35.22. The company has a market capitalization of $1.81 billion, a PE ratio of 12.31 and a beta of 1.78. PROG Holdings, Inc has a 12-month low of $25.80 and a 12-month high of $47.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.27 and a quick ratio of 2.41.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.46. PROG had a return on equity of 21.94% and a net margin of 5.88%.The firm had revenue of $742.67 million during the quarter, compared to the consensus estimate of $732.70 million. During the same period in the previous year, the firm posted $0.90 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that PROG Holdings, Inc will post 4.7 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG's payout ratio is 15.30%.

About PROG

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.

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