Inspire Advisors LLC Buys 525 Shares of PROG Holdings, Inc. (NYSE:PRG)

Inspire Advisors LLC raised its stake in PROG Holdings, Inc. (NYSE:PRG) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,884 shares of the company’s stock after acquiring an additional 525 shares during the quarter. Inspire Advisors LLC’s holdings in PROG were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PRG. GAMMA Investing LLC lifted its holdings in shares of PROG by 72.0% in 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. Point72 DIFC Ltd acquired a new position in shares of PROG in the second quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale acquired a new position in shares of PROG in the first quarter valued at approximately $59,000. Blue Trust Inc. increased its stake in shares of PROG by 2,015.1% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $68,000 after buying an additional 1,874 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of PROG in the second quarter valued at approximately $73,000. Institutional investors own 97.92% of the company’s stock.

PROG Stock Performance

Shares of PRG stock opened at $48.23 on Friday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 19.69 and a beta of 2.11. PROG Holdings, Inc. has a 52 week low of $26.39 and a 52 week high of $50.28. The company has a quick ratio of 1.80, a current ratio of 3.87 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $46.74 and a 200-day moving average of $39.44.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that PROG Holdings, Inc. will post 3.34 earnings per share for the current year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s dividend payout ratio is currently 19.59%.

Analysts Set New Price Targets

A number of research firms have weighed in on PRG. KeyCorp increased their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and increased their target price for the company from $41.00 to $55.00 in a research report on Monday, August 19th. 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 report on Thursday, July 25th. Finally, 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 report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.40.

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.