Raymond James Financial Services Advisors Inc. Has $322,000 Stake in PROG Holdings, Inc. (NYSE:PRG)

Posted by on Nov 4th, 2023

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of PROG Holdings, Inc. (NYSE:PRG – Free Report) by 29.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,021 shares of the company’s stock after selling 4,187 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PROG were worth $322,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in shares of PROG during the 2nd quarter worth approximately $436,000. Allspring Global Investments Holdings LLC grew its position in shares of PROG by 473.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 108,930 shares of the company’s stock worth $3,499,000 after buying an additional 89,946 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of PROG by 34.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 25,146 shares of the company’s stock worth $808,000 after buying an additional 6,424 shares during the period. Teacher Retirement System of Texas grew its position in shares of PROG by 112.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 41,964 shares of the company’s stock worth $1,348,000 after buying an additional 22,244 shares during the period. Finally, CHICAGO TRUST Co NA bought a new position in PROG during the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds own 95.24% of the company’s stock.

PROG Price Performance

NYSE:PRG opened at $28.87 on Friday. PROG Holdings, Inc. has a one year low of $16.26 and a one year high of $44.81. The company has a market cap of $1.35 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.68 and a beta of 2.12. The firm’s fifty day moving average price is $31.38 and its two-hundred day moving average price is $32.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.76 and a quick ratio of 1.91.

PROG (NYSE:PRG – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.62 by $0.28. PROG had a net margin of 6.40% and a return on equity of 30.59%. The firm had revenue of $582.90 million for the quarter, compared to the consensus estimate of $570.10 million. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. Equities analysts expect that PROG Holdings, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRG shares. Stephens reduced their price objective on shares of PROG from $68.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. KeyCorp cut their price objective on shares of PROG from $48.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Loop Capital lowered their target price on shares of PROG from $42.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, September 11th. Finally, Jefferies Financial Group lowered their target price on shares of PROG from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PROG has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

Check Out Our Latest Report on PRG

About PROG

(Free Report)

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.

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Institutional Ownership by Quarter for PROG (NYSE:PRG)

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