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

Allianz Asset Management GmbH increased its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 36.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 779,716 shares of the company’s stock after purchasing an additional 209,805 shares during the period. Allianz Asset Management GmbH’s holdings in PROG were worth $32,951,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PRG. FMR LLC grew its position in shares of PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after buying an additional 30,030 shares during the period. State Street Corp boosted its stake in PROG by 6.9% during the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after acquiring an additional 114,498 shares in the last quarter. Wellington Management Group LLP grew its holdings in PROG by 1.6% in the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after purchasing an additional 6,517 shares during the period. Assenagon Asset Management S.A. bought a new stake in PROG in the third quarter valued at $19,079,000. Finally, Barclays PLC raised its holdings in shares of PROG by 22.7% during the third quarter. Barclays PLC now owns 347,155 shares of the company’s stock valued at $16,834,000 after purchasing an additional 64,197 shares during the period. 97.92% of the stock is currently owned by institutional investors.

PROG Trading Up 0.6 %

PRG opened at $29.39 on Monday. PROG Holdings, Inc. has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The firm has a market capitalization of $1.22 billion, a PE ratio of 6.47 and a beta of 2.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The company’s 50-day moving average is $41.74 and its 200 day moving average is $44.85.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 EPS 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 during the quarter, compared to the consensus estimate of $612.67 million. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PRG has been the subject of several research reports. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. TD Cowen raised PROG to a “strong-buy” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.