CenterBook Partners LP Purchases 197,170 Shares of PROG Holdings, Inc $PRG

CenterBook Partners LP lifted its position in shares of PROG Holdings, Inc (NYSE:PRG) by 531.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,236 shares of the fintech holding company’s stock after purchasing an additional 197,170 shares during the quarter. CenterBook Partners LP owned 0.59% of PROG worth $7,243,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PRG. First Trust Advisors LP increased its stake in PROG by 588.0% during the 1st quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after purchasing an additional 717,932 shares in the last quarter. Wellington Management Group LLP lifted its stake in PROG by 12.5% in the second quarter. Wellington Management Group LLP now owns 697,324 shares of the fintech holding company’s stock valued at $32,502,000 after buying an additional 77,291 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of PROG in the second quarter valued at approximately $31,229,000. Ancora Advisors LLC acquired a new position in shares of PROG in the second quarter valued at approximately $22,288,000. Finally, Principal Financial Group Inc. increased its position in shares of PROG by 6.5% during the first quarter. Principal Financial Group Inc. now owns 292,744 shares of the fintech holding company’s stock worth $8,399,000 after acquiring an additional 17,789 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Down 3.2%

Shares of PRG traded down $1.24 during mid-day trading on Friday, hitting $37.62. 616,004 shares of the company’s stock were exchanged, compared to its average volume of 784,956. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.81 and a quick ratio of 2.25. PROG Holdings, Inc has a 52 week low of $25.18 and a 52 week high of $47.73. The company has a market cap of $1.50 billion, a PE ratio of 10.14 and a beta of 1.83. The company has a 50-day simple moving average of $33.91 and a 200 day simple moving average of $35.78.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, October 28th. The fintech holding company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). The business had revenue of $725.78 million during the quarter, compared to the consensus estimate of $735.28 million. PROG had a return on equity of 22.01% and a net margin of 5.46%. On average, research analysts forecast that PROG Holdings, Inc will post 4.77 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, November 17th. PROG’s dividend payout ratio is currently 15.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PRG. Zacks Research lowered shares of PROG from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. KeyCorp increased their target price on PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Stephens cut their price target on PROG from $55.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Finally, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.38.

About PROG

PROG Holdings, Inc is a financial technology company that provides consumer payment and lease-to-own solutions through its operating businesses. Its services are designed to help consumers acquire household goods and other merchandise through retail stores, e-commerce websites and other merchant channels.

The company’s primary business is Progressive Leasing, a lease-to-own provider that gives consumers an alternative to traditional credit when purchasing products such as furniture, appliances, electronics, mattresses and other household merchandise.