PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 961,953 shares of the company’s stock after selling 14,245 shares during the quarter. Geode Capital Management LLC’s holdings in PROG were worth $46,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new stake in shares of PROG during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC lifted 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 worth $39,000 after acquiring an additional 337 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of PROG during the 2nd quarter worth approximately $47,000. Finally, Quarry LP increased its holdings in PROG by 162.9% in the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock valued at $74,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PRG shares. TD Cowen upgraded PROG to a “strong-buy” rating in a research note on Friday, November 29th. KeyCorp increased their price target on shares of 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 lifted their target price on 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 PROG in a report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price target on the stock. Finally, Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PROG currently has an average rating of “Buy” and an average target price of $53.83.

PROG Stock Down 0.9 %

PROG stock opened at $41.73 on Tuesday. The stock’s fifty day moving average is $46.46 and its two-hundred day moving average is $43.25. The stock has a market cap of $1.73 billion, a PE ratio of 11.56 and a beta of 2.15. PROG Holdings, Inc. has a 1-year low of $27.84 and a 1-year high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company posted $0.90 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that PROG Holdings, Inc. will post 3.36 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.15%. PROG’s dividend payout ratio is currently 13.30%.

Insider Activity

In other news, VP George M. Sewell sold 3,500 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the sale, the vice president now directly owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Todd King sold 1,500 shares of the firm’s stock in a transaction dated 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 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. In the last three months, insiders sold 119,207 shares of company stock valued at $5,759,152. 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.