Knights of Columbus Asset Advisors LLC Boosts Position in PROG Holdings, Inc. (NYSE:PRG)

Knights of Columbus Asset Advisors LLC lifted its holdings in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 198.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,738 shares of the company's stock after buying an additional 112,907 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.38% of PROG worth $5,247,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in PROG in the 4th quarter valued at about $16,483,000. Charles Schwab Investment Management Inc. raised its stake in shares of PROG by 143.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,267,221 shares of the company's stock worth $30,147,000 after acquiring an additional 746,161 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of PROG by 395.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company's stock worth $23,765,000 after acquiring an additional 659,312 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of PROG by 37.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,129,384 shares of the company's stock worth $35,966,000 after acquiring an additional 576,086 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of PROG by 95.2% during the 4th quarter. JPMorgan Chase & Co. now owns 911,986 shares of the company's stock worth $15,403,000 after acquiring an additional 444,737 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Stephens upgraded shares of PROG from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, January 2nd. TD Cowen assumed coverage on shares of PROG in a report on Friday, March 8th. They issued an "outperform" rating and a $37.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.60.

PROG Stock Performance

Shares of NYSE PRG traded up $1.15 during midday trading on Friday, reaching $32.01. The company had a trading volume of 284,813 shares, compared to its average volume of 266,925. The business's 50-day simple moving average is $32.21 and its 200 day simple moving average is $30.60. The stock has a market cap of $1.40 billion, a P/E ratio of 10.81 and a beta of 2.08. PROG Holdings, Inc. has a 1 year low of $24.28 and a 1 year high of $44.81. The company has a current ratio of 3.66, a quick ratio of 1.49 and a debt-to-equity ratio of 1.00.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.05. The business 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% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. On average, analysts forecast that PROG Holdings, Inc. will post 2.83 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.50%. PROG's payout ratio is currently 16.22%.

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.