PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,575 shares of the company’s stock after selling 1,023 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.08% of PROG worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of PROG during the 4th quarter worth about $527,000. Smartleaf Asset Management LLC raised its stake in PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after purchasing an additional 707 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of PROG by 9.9% in the 4th quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company’s stock valued at $15,951,000 after purchasing an additional 34,020 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of PROG by 170.7% during the 4th quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company’s stock valued at $10,521,000 after buying an additional 157,006 shares during the period. Finally, Inspire Investing LLC acquired a new stake in shares of PROG during the 4th quarter worth $833,000. 97.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, with a total value of $46,216.50. Following the transaction, the director now owns 18,291 shares of the company’s stock, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas C. Curling purchased 10,000 shares of PROG stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the transaction, the director now directly owns 45,913 shares of the company’s stock, valued at approximately $1,371,880.44. The trade was a 27.85 % increase in their position. The disclosure for this purchase can be found here. 3.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and lowered their price target for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. KeyCorp decreased their target price on PROG from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Loop Capital cut their price target on shares of PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.83.

PROG Stock Performance

PROG stock opened at $27.90 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of 6.15 and a beta of 1.81. PROG Holdings, Inc. has a one year low of $23.50 and a one year high of $50.28. The stock’s 50 day moving average price is $26.48 and its 200 day moving average price is $37.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. PROG’s dividend payout ratio (DPR) is presently 10.66%.

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.