Stifel Financial Corp Buys Shares of 21,570 PROG Holdings, Inc. (NYSE:PRG)

Stifel Financial Corp purchased a new position in shares of PROG Holdings, Inc. (NYSE:PRG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,570 shares of the company’s stock, valued at approximately $1,046,000.

Several other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new stake in PROG during the 3rd quarter valued at $26,000. Financial Management Professionals Inc. purchased a new stake in PROG during the 3rd quarter worth about $33,000. GAMMA Investing LLC boosted its stake in PROG by 72.0% in the 3rd 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 purchased a new position in PROG during the 2nd quarter valued at about $47,000. Finally, nVerses Capital LLC bought a new stake in shares of PROG during the second quarter valued at about $73,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Price Performance

Shares of PROG stock opened at $41.73 on Tuesday. The firm has a market capitalization of $1.73 billion, a PE ratio of 11.56 and a beta of 2.15. 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 Holdings, Inc. has a 12 month low of $27.84 and a 12 month high of $50.28. The business’s 50-day moving average price is $46.46 and its 200-day moving average price is $43.25.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $601.86 million. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that PROG Holdings, Inc. will post 3.36 EPS for the current fiscal year.

PROG Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James raised shares of 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. Stephens began coverage on shares of PROG in a report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price target on the stock. KeyCorp lifted their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, TD Cowen upgraded PROG to a “strong-buy” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.83.

Insider Transactions at PROG

In other PROG news, VP George M. Sewell sold 3,500 shares of the 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 sale, the vice president now owns 12,639 shares of the company’s stock, valued at $617,794.32. This represents a 21.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Todd King sold 1,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $46.97, for a total transaction of $70,455.00. Following the transaction, the insider now directly owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,207 shares of company stock worth $5,759,152. Company insiders own 2.74% of the company’s stock.

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.