Natixis Advisors LLC Purchases 675 Shares of PROG Holdings, Inc. (NYSE:PRG)

Natixis Advisors LLC lifted its position in PROG Holdings, Inc. (NYSE:PRG) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,661 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Natixis Advisors LLC’s holdings in PROG were worth $711,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position 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 buying an additional 337 shares during the last quarter. Diversified Trust Co raised its stake in shares of PROG by 7.1% during the third quarter. Diversified Trust Co now owns 7,849 shares of the company’s stock worth $381,000 after acquiring an additional 520 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of PROG by 4.2% in the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company’s stock worth $625,000 after acquiring an additional 525 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of PROG in the 3rd quarter valued at $26,000. Finally, Financial Management Professionals Inc. bought a new position in shares of PROG during the 3rd quarter valued at $33,000. Institutional investors own 97.92% of the company’s stock.

Insider Transactions at PROG

In other news, insider Michael Todd King sold 1,500 shares of the firm’s stock in a transaction on 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 $1,738,688.49. This trade represents a 3.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian Garner sold 15,484 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.27, for a total value of $747,412.68. Following the sale, the chief financial officer now owns 92,236 shares of the company’s stock, valued at approximately $4,452,231.72. This trade represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,207 shares of company stock worth $5,759,152. Corporate insiders own 2.74% of the company’s stock.

PROG Stock Down 1.9 %

NYSE:PRG opened at $48.22 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The firm’s 50-day moving average price is $47.18 and its 200-day moving average price is $42.02. The company has a market capitalization of $2.00 billion, a PE ratio of 13.36 and a beta of 2.11. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. On average, equities analysts predict that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.00%. PROG’s dividend payout ratio (DPR) is presently 13.30%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRG. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Thursday, October 24th. 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. KeyCorp boosted their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Stephens assumed coverage on shares of PROG in a report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.