Amundi Boosts Stake in PROG Holdings, Inc. (NYSE:PRG)

Amundi increased its holdings in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 126.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,397 shares of the company's stock after purchasing an additional 13,052 shares during the quarter. Amundi owned approximately 0.06% of PROG worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after acquiring an additional 707 shares during the period. Quarry LP increased its position in shares of PROG by 162.9% during the third quarter. Quarry LP now owns 1,517 shares of the company's stock valued at $74,000 after buying an additional 940 shares during the period. KBC Group NV raised its stake in PROG by 53.9% in the fourth quarter. KBC Group NV now owns 2,015 shares of the company's stock worth $85,000 after buying an additional 706 shares in the last quarter. Blue Trust Inc. boosted its position in PROG by 38.6% during the 4th quarter. Blue Trust Inc. now owns 3,691 shares of the company's stock valued at $156,000 after acquiring an additional 1,027 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in PROG by 2,762.2% during the third quarter. Point72 Hong Kong Ltd now owns 3,635 shares of the company's stock valued at $176,000 after buying an additional 3,508 shares during the period. Hedge funds and other institutional investors own 97.92% of the company's stock.

Insider Activity

In other news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, with a total value of $46,216.50. Following the acquisition, the director now owns 18,291 shares of the company's stock, valued at approximately $512,330.91. This represents a 9.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas C. Curling acquired 10,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, with a total value of $298,800.00. Following the purchase, the director now owns 45,913 shares of the company's stock, 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. Insiders own 2.74% of the company's stock.

PROG Stock Performance

Shares of PRG traded down $0.01 during mid-day trading on Friday, hitting $27.17. 1,189,745 shares of the company traded hands, compared to its average volume of 405,360. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 5.98 and a beta of 2.14. The stock has a 50-day moving average price of $35.83 and a two-hundred day moving average price of $42.45. PROG Holdings, Inc. has a 1 year low of $25.93 and a 1 year high of $50.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24.

PROG (NYSE:PRG - Get Free Report) last announced its earnings results 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. The business had revenue of $623.30 million during the quarter, compared to analyst estimates of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.13 per share. This is an increase from PROG's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 13th. PROG's payout ratio is currently 10.57%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen upgraded shares of PROG to a "strong-buy" rating in a research note on Friday, November 29th. Jefferies Financial Group cut shares of PROG from a "buy" rating to a "hold" rating and cut their price target for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, Stephens restated an "overweight" rating and issued a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $49.00.

PROG 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.