PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in PROG Holdings, Inc. (NYSE:PRG) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,147 shares of the company’s stock after selling 1,599 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of PROG worth $808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRG. Blue Trust Inc. acquired a new position in PROG during the 4th quarter worth approximately $27,000. BluePath Capital Management LLC acquired a new position in shares of PROG during the third quarter worth $31,000. Acadian Asset Management LLC purchased a new position in shares of PROG in the third quarter valued at $33,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in PROG during the 3rd quarter valued at $103,000. Finally, Meeder Asset Management Inc. purchased a new stake in PROG during the 4th quarter worth $169,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRG. Stephens raised shares of PROG from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 2nd. TD Cowen increased their price target on PROG from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Loop Capital lifted their price objective on PROG from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.60.

PROG Stock Performance

Shares of PRG stock opened at $34.50 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.83 and a current ratio of 3.91. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.08 and a beta of 2.08. PROG Holdings, Inc. has a one year low of $26.39 and a one year high of $44.81. The company’s 50-day simple moving average is $32.43 and its 200-day simple moving average is $30.74.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. PROG had a return on equity of 26.67% and a net margin of 4.71%. The company had revenue of $641.87 million for the quarter, compared to the consensus estimate of $632.24 million. Equities analysts anticipate that PROG Holdings, Inc. will post 3 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. Shareholders of record on Thursday, March 14th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio is presently 19.59%.

About PROG

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.