Proficio Capital Partners LLC Purchases New Stake in PROG Holdings, Inc. (NYSE:PRG)

Proficio Capital Partners LLC purchased a new stake in shares of PROG Holdings, Inc. (NYSE:PRG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,467 shares of the company’s stock, valued at approximately $527,000.

Several other large investors have also recently added to or reduced their stakes in PRG. Stifel Financial Corp bought a new position in shares of PROG in the third quarter worth $1,046,000. Smartleaf Asset Management LLC boosted 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 valued at $51,000 after buying an additional 707 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in PROG by 9.9% during the fourth quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company’s stock valued at $15,951,000 after buying an additional 34,020 shares in the last quarter. Atom Investors LP bought a new position in PROG during the third quarter valued at about $4,979,000. Finally, FMR LLC boosted its position in shares of PROG by 1.3% in the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after purchasing an additional 30,030 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PROG

In other PROG news, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $28.01 per share, with a total value of $46,216.50. Following the transaction, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas C. Curling purchased 10,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares in the company, valued at approximately $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.74% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PRG. Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and decreased their price target for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. Stephens reiterated an “overweight” rating and issued a $60.00 price target on shares of PROG in a research report on Thursday, January 2nd. Finally, TD Cowen upgraded PROG to a “strong-buy” rating in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PROG has an average rating of “Moderate Buy” and an average price target of $49.00.

PROG Stock Down 0.0 %

PRG opened at $27.17 on Monday. PROG Holdings, Inc. has a fifty-two week low of $25.93 and a fifty-two week high of $50.28. The business has a 50-day moving average of $35.83 and a 200-day moving average of $42.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The company has a market capitalization of $1.11 billion, a PE ratio of 5.98 and a beta of 2.14.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $623.30 million for the quarter, compared to the consensus estimate of $612.67 million. During the same period last year, the business earned $0.72 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 13th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from PROG’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, March 13th. PROG’s dividend payout ratio (DPR) is presently 10.57%.

PROG Company 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.