PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,545 shares of the company’s stock after selling 8,788 shares during the quarter. Royce & Associates LP owned 0.10% of PROG worth $2,015,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after purchasing an additional 337 shares in the last quarter. Diversified Trust Co raised its stake in PROG by 7.1% in the third quarter. Diversified Trust Co now owns 7,849 shares of the company’s stock valued at $381,000 after buying an additional 520 shares in the last quarter. Inspire Advisors LLC lifted its holdings in PROG by 4.2% during the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company’s stock worth $625,000 after buying an additional 525 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of PROG during the 3rd quarter worth about $26,000. Finally, ProShare Advisors LLC increased its holdings in shares of PROG by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock valued at $308,000 after acquiring an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Trading Down 0.6 %

NYSE PRG opened at $46.81 on Wednesday. PROG Holdings, Inc. has a one year low of $26.39 and a one year high of $50.28. The firm has a market cap of $1.94 billion, a PE ratio of 12.97 and a beta of 2.11. The firm’s fifty day moving average is $47.00 and its two-hundred day moving average is $41.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The firm had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s dividend payout ratio is presently 13.30%.

Insider Activity at PROG

In other PROG news, VP George M. Sewell sold 3,500 shares of PROG stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the sale, the vice president now owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. The trade was a 21.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Todd King sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the transaction, the insider now owns 37,017 shares in the company, valued at $1,738,688.49. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock worth $5,759,152 in the last three months. Insiders own 2.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRG. KeyCorp boosted their target price on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. TD Cowen upped their target price on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Stephens initiated coverage on shares of PROG in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate 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.