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The Alaska Department of Revenue reduces its holdings in PROG Holdings, Inc. (NYSE:PRG)

The Alaska Department of Revenue reduces its holdings in PROG Holdings, Inc. (NYSE:PRG)

The State of Alaska Department of Revenue sold off 14.5% of its holdings in PROG Holdings, Inc. (NYSE: PRG) during the third quarter, as stated in the most recent filing that the company made with the Securities and Exchange Commission. After completing a transaction during the quarter in which they sold 5,919 shares of the company’s stock, the institutional investor now has 34,941 shares in their portfolio. The most recent filing with the SEC reveals that the State of Alaska Department of Revenue owns approximately 0.06% of PROG, which is currently worth USD 523,000.

During the most recent trading activity, PRG stock was bought and sold by several other hedge funds. The Bank of Montreal added approximately $4.770 million more to the amount it had previously invested in PROG over the year’s first three months. MetLife Investment Management LLC’s number of PROG holdings at the beginning of the year increased by 30.3% compared to the previous quarter. Following purchasing 15,302 additional shares during the most recent fiscal quarter, MetLife Investment Management LLC now has 65,818 shares, valued at $1,894,000. This brings the total number of shares owned by the firm to 1,894,000. In addition, the Commonwealth of Pennsylvania Public School Employees Retirement System achieved a 10.5% increase in the proportion of its holdings allocated to PROG during the first three months of 2018. The Commonwealth of Pennsylvania Public School Empls Retrmt SYS now has a total of 20,787 shares in the company, which are worth a combined total of $598,000. This is a result of the recent purchase of an additional 1,982 shares in the company during the most recent quarter. During the first three months of 2018, Great West Life Assurance Company of Canada added 6.0 percentage points to its PROG holdings. As a result of the purchase of 1,728 additional shares during the most recent quarter, Great West Life Assurance Co. now directly holds a total of 30,504 shares in the company. The current market value of these shares brings their total worth to $902,000And finally, over the first three months of 2018, Ergoteles LLC increased its holdings in PROG by a factor of 55.0 percent. Ergoteles LLC now has 36,717 shares of the company’s stock, which are currently valued at $1,056,000 after purchasing an additional 13,026 shares during the preceding quarter. Institutional investors and hedge funds jointly own 98.81% of the company’s total shares, which means that these two types of investors hold the majority of the company’s stock.

When trading started on Friday, one share of PRG stock was valued at $19.74. This price remained unchanged throughout the day. The debt-to-equity ratio, the current ratio, and quick assets to current liabilities all come in at 1.50. Still, the ratio of quick assets to current liabilities is only 1.04. The company’s market capitalization is reported to be $987.65 million, its price-to-earnings ratio is 11.15, and its beta is 2.00. The company has had a simple moving average of $18.16 over the past 50 days and a simple moving average of $17.92 over the last 200 days. PROG Holdings, Inc. reached an all-time low of $12.11 during the prior year, while the company reached an all-time high of $44.97 during the same period.

The most recent earnings report for PROG, traded on the NYSE under the symbol PRG, was released on October 26. The company reported earnings per share for the quarter of $0.68, which was $0.04 higher than the consensus estimate among analysts, who had predicted earnings per share of $0.64. The company’s quarterly sales came in at $625.82 million, which is lower than the consensus expectation of $626.04 million for sales of the company’s products and services. The return on equity for PROG was calculated to be 22.42%, and the net margin for the company was calculated to be 3.82%. PROG Holdings, Inc. is expected to generate earnings of $2.36 per share in 2018, according to forecasts made by participants in the stock market.

In a separate piece of news, on October 27, KeyCorp decreased their target price on PROG shares from $36.00 to $33.00 while maintaining their “overweight” recommendation.

PROG Holdings, Inc., which has its headquarters in Salt Lake City, Utah, and trades on the New York Stock Exchange (NYSE) under the ticker symbol “PRG,” is an active financial technology holding company in three different areas of the business world. First, the lease-to-own transactions offered by Progressive Leasing are made available to customers through e-commerce and point-of-sale retail partners. Customers with poor credit are the primary audience that Progressive Leasing aims to attract with these types of transactions. In addition, Vive Financial provides various second-look financing options to customers, some of whom may not qualify for traditional prime lending because of their credit histories.

Are you curious about the other hedge funds that hold positions in PRG and would like more information about them? By going to HoldingsChannel.com, you can research the most recent 13F filings and insider transactions for PROG Holdings, Inc. (NYSE: PRG).

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