Ceredex Value Advisors LLC Sells 79,800 Shares of PROG Holdings, Inc. (NYSE:PRG)

Ceredex Value Advisors LLC trimmed its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 27.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,750 shares of the company's stock after selling 79,800 shares during the period. Ceredex Value Advisors LLC owned 0.49% of PROG worth $10,268,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Whittier Trust Co. acquired a new position in PROG in the third quarter valued at about $26,000. Financial Management Professionals Inc. acquired a new stake in shares of PROG in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC boosted its stake in PROG by 72.0% during the 3rd 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 PROG during the second quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in PROG in the first quarter valued at approximately $59,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Stock Up 0.8 %

Shares of PRG stock traded up $0.36 on Friday, hitting $44.03. 306,363 shares of the stock were exchanged, compared to its average volume of 308,910. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.83 billion, a P/E ratio of 12.20 and a beta of 2.11. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The business has a 50-day moving average of $46.72 and a 200 day moving average of $40.34.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The firm had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter in the prior year, the firm posted $0.90 EPS. The business's revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 1.09%. PROG's payout ratio is currently 13.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PRG shares. Raymond James raised shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Thursday, October 24th. Jefferies Financial Group boosted their target price on PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. KeyCorp increased their price target on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. Loop Capital upgraded PROG from a "hold" rating to a "buy" rating and lifted their price objective for the company from $41.00 to $55.00 in a report on Monday, August 19th. Finally, TD Cowen raised their target price on shares of PROG from $40.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.60.

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.