PROG Holdings, Inc. (NYSE:PRG) Stake Lowered by Deutsche Bank AG

Deutsche Bank AG cut its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 70.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,137 shares of the company’s stock after selling 115,448 shares during the quarter. Deutsche Bank AG’s holdings in PROG were worth $2,315,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Stephens Inc. AR increased its stake in shares of PROG by 4.1% in the first quarter. Stephens Inc. AR now owns 5,204 shares of the company’s stock worth $225,000 after acquiring an additional 203 shares during the last quarter. IndexIQ Advisors LLC boosted its holdings in PROG by 2.6% during the second quarter. IndexIQ Advisors LLC now owns 9,345 shares of the company’s stock valued at $450,000 after acquiring an additional 240 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of PROG by 2.6% in the first quarter. CIBC Private Wealth Group LLC now owns 13,526 shares of the company’s stock valued at $585,000 after buying an additional 340 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of PROG by 224.6% in the second quarter. Exchange Traded Concepts LLC now owns 659 shares of the company’s stock valued at $32,000 after buying an additional 456 shares during the period. Finally, Brandywine Oak Private Wealth LLC lifted its stake in shares of PROG by 10.5% in the second quarter. Brandywine Oak Private Wealth LLC now owns 5,188 shares of the company’s stock valued at $249,000 after buying an additional 495 shares during the period. 95.13% of the stock is owned by institutional investors.

A number of research analysts have commented on the stock. Raymond James cut their price target on shares of PROG from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, August 2nd. Zacks Investment Research lowered shares of PROG from a “buy” rating to a “hold” rating in a report on Tuesday, August 3rd. Finally, TheStreet raised shares of PROG from a “c” rating to a “b-” rating in a report on Monday, August 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $58.00.

In other PROG news, CEO Steven A. Michaels bought 7,500 shares of the stock in a transaction on Tuesday, August 3rd. The stock was purchased at an average price of $42.91 per share, with a total value of $321,825.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas C. Curling bought 2,500 shares of the stock in a transaction on Monday, August 9th. The shares were acquired at an average cost of $43.11 per share, with a total value of $107,775.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,500 shares of company stock valued at $536,825 in the last ninety days. Company insiders own 1.23% of the company’s stock.

Shares of PROG stock opened at $43.55 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.24 and a quick ratio of 1.18. The firm has a market cap of $2.90 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.56 and a beta of 2.00. The firm has a 50 day simple moving average of $44.90 and a 200 day simple moving average of $47.05. PROG Holdings, Inc. has a fifty-two week low of $41.27 and a fifty-two week high of $67.20.

PROG (NYSE:PRG) last issued its quarterly earnings results on Thursday, July 29th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.23. The business had revenue of $659.97 million during the quarter, compared to analyst estimates of $655.12 million. PROG had a net margin of 9.82% and a return on equity of 29.18%. On average, sell-side analysts expect that PROG Holdings, Inc. will post 4.07 EPS for the current year.

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.

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Institutional Ownership by Quarter for PROG (NYSE:PRG)

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