Quest Partners LLC Sells 5,718 Shares of PROG Holdings, Inc. (NYSE:PRG)

Quest Partners LLC decreased its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 52.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,135 shares of the company’s stock after selling 5,718 shares during the quarter. Quest Partners LLC’s holdings in PROG were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of PRG. Whittier Trust Co. bought a new position in PROG during the third quarter worth about $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC increased its holdings in shares of PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of PROG in the second quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG in the first quarter valued at approximately $59,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Insider Buying and Selling

In other news, VP George M. Sewell sold 3,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total transaction of $171,080.00. Following the completion of the transaction, the vice president now owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This trade represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Todd King sold 1,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the sale, the insider now directly owns 37,017 shares in the company, valued at approximately $1,738,688.49. This represents 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 ninety days. Company insiders own 2.74% of the company’s stock.

PROG Stock Performance

NYSE:PRG opened at $49.14 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $2.04 billion, a PE ratio of 13.61 and a beta of 2.11. PROG Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $50.28. The stock’s 50-day simple moving average is $47.17 and its 200 day simple moving average is $41.97.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. 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 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. PROG’s dividend payout ratio (DPR) is presently 13.30%.

Wall Street Analysts Forecast Growth

PRG has been the topic of a number of recent research reports. Stephens assumed coverage on PROG in a research note on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price objective on the stock. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their price target for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. Jefferies Financial Group boosted their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Thursday, October 24th. Finally, KeyCorp boosted their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.83.

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.