SG Americas Securities LLC Reduces Position in PROG Holdings, Inc. (NYSE:PRG)

SG Americas Securities LLC trimmed its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 58.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,038 shares of the company's stock after selling 33,204 shares during the period. SG Americas Securities LLC owned 0.05% of PROG worth $743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BluePath Capital Management LLC bought a new stake in shares of PROG during the third quarter worth approximately $31,000. Acadian Asset Management LLC acquired a new position in PROG during the third quarter valued at approximately $33,000. Quilter Plc acquired a new position in PROG during the first quarter valued at approximately $1,787,400,000. Lazard Asset Management LLC acquired a new position in PROG during the fourth quarter valued at approximately $30,000. Finally, Point72 Asset Management L.P. acquired a new position in PROG during the second quarter valued at approximately $79,000. 97.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRG. Stephens upgraded shares of PROG from an "equal weight" rating to an "overweight" rating in a report on Tuesday, January 2nd. TD Cowen began coverage on shares of PROG in a report on Friday, March 8th. They set an "outperform" rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $39.60.

PROG Stock Down 0.4 %

Shares of PROG stock traded down $0.14 on Wednesday, hitting $32.95. The company had a trading volume of 215,024 shares, compared to its average volume of 419,618. The firm has a market capitalization of $1.44 billion, a P/E ratio of 11.26 and a beta of 2.08. PROG Holdings, Inc. has a twelve month low of $22.01 and a twelve month high of $44.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. The stock has a 50-day moving average of $32.01 and a 200-day moving average of $30.55.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The company had revenue of $577.40 million during the quarter, compared to analysts' expectations of $568.35 million. PROG had a net margin of 5.77% and a return on equity of 28.83%. The business's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts predict that PROG Holdings, Inc. will post 2.83 earnings per share for the current year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Wednesday, March 13th. PROG's dividend payout ratio (DPR) 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.