Allianz Asset Management GmbH Buys 209,805 Shares of PROG Holdings, Inc. (NYSE:PRG)

Allianz Asset Management GmbH boosted its stake in PROG Holdings, Inc. (NYSE:PRG) by 36.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 779,716 shares of the company’s stock after purchasing an additional 209,805 shares during the quarter. Allianz Asset Management GmbH owned about 1.88% of PROG worth $32,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PRG. New York State Common Retirement Fund raised its position in shares of PROG by 3.0% in the 4th quarter. New York State Common Retirement Fund now owns 187,300 shares of the company’s stock valued at $7,915,000 after buying an additional 5,453 shares in the last quarter. Principal Financial Group Inc. increased its stake in PROG by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 201,644 shares of the company’s stock valued at $8,521,000 after acquiring an additional 2,015 shares during the last quarter. Blue Trust Inc. raised its position in PROG by 38.6% during the fourth quarter. Blue Trust Inc. now owns 3,691 shares of the company’s stock valued at $156,000 after purchasing an additional 1,027 shares in the last quarter. Life Planning Partners Inc bought a new stake in PROG during the fourth quarter worth $1,235,000. Finally, KBC Group NV boosted its holdings in shares of PROG by 53.9% in the 4th quarter. KBC Group NV now owns 2,015 shares of the company’s stock valued at $85,000 after purchasing an additional 706 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Trading Up 0.6 %

NYSE PRG opened at $29.39 on Monday. PROG Holdings, Inc. has a twelve month low of $27.84 and a twelve month high of $50.28. The business’s fifty day moving average is $41.74 and its 200 day moving average is $44.85. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 6.47 and a beta of 2.18.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $612.67 million. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

Analysts Set New Price Targets

PRG has been the subject of a number of research analyst reports. Stephens reissued an “overweight” rating and set a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. TD Cowen raised PROG to a “strong-buy” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $53.83.

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.