Teacher Retirement System of Texas Has $6.75 Million Position in PROG Holdings, Inc. (NYSE:PRG)

Teacher Retirement System of Texas boosted its position in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 72.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,746 shares of the company's stock after buying an additional 67,118 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.38% of PROG worth $6,751,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PRG. Smartleaf Asset Management LLC raised its holdings in shares of PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after purchasing an additional 707 shares during the last quarter. Quarry LP lifted its position in PROG by 162.9% during the 3rd quarter. Quarry LP now owns 1,517 shares of the company's stock worth $74,000 after buying an additional 940 shares in the last quarter. KBC Group NV boosted its stake in shares of PROG by 53.9% during the 4th quarter. KBC Group NV now owns 2,015 shares of the company's stock worth $85,000 after buying an additional 706 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of PROG in the 4th quarter valued at about $101,000. Finally, Blue Trust Inc. grew its holdings in shares of PROG by 38.6% in the 4th quarter. Blue Trust Inc. now owns 3,691 shares of the company's stock valued at $156,000 after acquiring an additional 1,027 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRG. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and decreased their price target for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. TD Cowen upgraded shares of PROG to a "strong-buy" rating in a report on Friday, November 29th. Finally, Stephens reiterated an "overweight" rating and set a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.00.

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PROG Stock Performance

Shares of PROG stock traded down $0.08 on Thursday, hitting $27.40. The stock had a trading volume of 462,328 shares, compared to its average volume of 406,533. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 6.04 and a beta of 2.14. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. PROG Holdings, Inc. has a twelve month low of $25.93 and a twelve month high of $50.28. The business's 50 day moving average is $34.99 and its two-hundred day moving average is $42.06.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm had revenue of $623.30 million for the quarter, compared to analysts' expectations of $612.67 million. During the same quarter last year, the business earned $0.72 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. Analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from PROG's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. PROG's payout ratio is presently 10.57%.

Insider Activity at PROG

In other PROG news, Director Douglas C. Curling acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the transaction, the director now directly owns 45,913 shares in the company, valued at $1,371,880.44. This represents a 27.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the transaction, the director now owns 18,291 shares of the company's stock, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by corporate insiders.

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.