PROG Holdings, Inc. (NYSE:PRG) Stock Position Lifted by Fmr LLC

Fmr LLC grew its position in PROG Holdings, Inc. (NYSE:PRG) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,430,318 shares of the company’s stock after acquiring an additional 30,030 shares during the quarter. Fmr LLC owned approximately 5.85% of PROG worth $117,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PRG. Whittier Trust Co. bought a new stake in PROG during the third quarter valued at $26,000. Financial Management Professionals Inc. bought a new stake in shares of PROG during the 3rd quarter valued at about $33,000. GAMMA Investing LLC raised its stake in PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after acquiring an additional 337 shares during the period. Point72 DIFC Ltd bought a new position in PROG in the second quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in PROG in the first quarter valued at approximately $59,000. 97.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRG. KeyCorp increased their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their price target on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Stephens assumed coverage on shares of PROG in a report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price objective on the stock. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and boosted their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, TD Cowen upgraded shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $53.83.

PROG Stock Down 0.5 %

PRG stock opened at $47.87 on Thursday. The firm’s 50-day moving average is $47.09 and its two-hundred day moving average is $42.41. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 13.29 and a beta of 2.15. PROG Holdings, Inc. has a 52 week low of $27.84 and a 52 week high of $50.28. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94.

PROG (NYSE:PRG) last released 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 return on equity of 24.56% and a net margin of 6.55%. The firm had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts forecast that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Tuesday, November 19th. PROG’s payout ratio is 13.30%.

Insider Transactions at PROG

In other PROG news, CFO Brian Garner sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the sale, the chief financial officer now owns 107,720 shares in the company, valued at approximately $5,309,518.80. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven A. Michaels sold 27,324 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the completion of the sale, the chief executive officer now owns 409,209 shares of the company’s stock, valued at approximately $19,310,572.71. This trade represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock valued at $5,759,152 in the last quarter. Insiders own 2.74% of the company’s stock.

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.