MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 446 Shares of PROG Holdings, Inc. (NYSE:PRG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,201 shares of the company’s stock after purchasing an additional 446 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of PROG worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Allianz Asset Management GmbH boosted its position in PROG by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock valued at $32,951,000 after buying an additional 209,805 shares in the last quarter. Marshall Wace LLP lifted its stake in PROG by 2,008.0% in the fourth quarter. Marshall Wace LLP now owns 178,550 shares of the company’s stock valued at $7,546,000 after buying an additional 170,080 shares during the period. Great Lakes Advisors LLC boosted its holdings in PROG by 170.7% during the fourth quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company’s stock worth $10,521,000 after buying an additional 157,006 shares during the last quarter. Norges Bank acquired a new position in shares of PROG during the 4th quarter worth about $6,093,000. Finally, FMR LLC raised its position in shares of PROG by 5.5% in the 4th quarter. FMR LLC now owns 2,564,441 shares of the company’s stock valued at $108,373,000 after acquiring an additional 134,123 shares during the period. 97.92% of the stock is currently owned by institutional investors.

PROG Price Performance

Shares of NYSE PRG opened at $28.29 on Monday. The company has a fifty day moving average price of $26.93 and a 200 day moving average price of $35.94. PROG Holdings, Inc. has a 1-year low of $23.50 and a 1-year high of $50.28. The firm has a market cap of $1.14 billion, a PE ratio of 6.23 and a beta of 1.81. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.82 by $0.08. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm had revenue of $684.09 million for the quarter, compared to analysts’ expectations of $678.23 million. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, May 20th. PROG’s dividend payout ratio (DPR) is currently 10.66%.

Analyst Upgrades and Downgrades

PRG has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of PROG from a “buy” rating to a “hold” rating and lowered their target price for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. KeyCorp lowered their price objective on shares of PROG from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Finally, Loop Capital reduced their target price on PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.83.

Insider Buying and Selling at PROG

In related news, CFO Brian Garner acquired 3,500 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were bought at an average price of $28.93 per share, for a total transaction of $101,255.00. Following the purchase, the chief financial officer now directly owns 132,597 shares in the company, valued at approximately $3,836,031.21. This trade represents a 2.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $28.01 per share, with a total value of $46,216.50. Following the acquisition, the director now owns 18,291 shares in the company, valued at $512,330.91. The trade was a 9.92% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 19,150 shares of company stock worth $553,892. Insiders own 3.21% of the company’s stock.

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.