PROG Holdings, Inc. (NYSE:PRG) Stake Raised by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 144.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the company’s stock after acquiring an additional 6,200 shares during the quarter. Two Sigma Advisers LP’s holdings in PROG were worth $444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Summit Securities Group LLC purchased a new stake in shares of PROG in the fourth quarter worth approximately $38,000. Sterling Capital Management LLC increased its stake in PROG by 765.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock valued at $46,000 after buying an additional 957 shares during the period. Smartleaf Asset Management LLC lifted its position in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after buying an additional 707 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of PROG by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock valued at $57,000 after buying an additional 977 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of PROG during the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Insider Buying and Selling at PROG

In other news, CFO Brian Garner purchased 3,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was bought at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the completion of the acquisition, the chief financial officer now directly owns 132,597 shares of the company’s stock, valued at approximately $3,836,031.21. The trade was a 2.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven A. Michaels acquired 14,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the purchase, the chief executive officer now directly owns 559,641 shares of the company’s stock, valued at $16,246,378.23. This trade represents a 2.57% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company’s stock.

Analyst Ratings Changes

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

PROG Trading Down 0.9%

Shares of NYSE:PRG opened at $28.99 on Thursday. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.17 billion, a PE ratio of 6.39 and a beta of 1.79. PROG Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The firm has a fifty day moving average price of $27.19 and a 200 day moving average price of $35.05.

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

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.52 annualized dividend and a yield of 1.79%. PROG’s dividend payout ratio (DPR) is presently 10.66%.

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.