PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 92.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,747 shares of the company's stock after selling 62,570 shares during the period. Bank of Montreal Can's holdings in PROG were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRG. Barclays PLC raised its position in PROG by 22.7% during the 3rd quarter. Barclays PLC now owns 347,155 shares of the company's stock worth $16,834,000 after buying an additional 64,197 shares during the last quarter. Franklin Resources Inc. raised its holdings in PROG by 40.9% during the third quarter. Franklin Resources Inc. now owns 45,411 shares of the company's stock worth $2,180,000 after purchasing an additional 13,186 shares in the last quarter. Ritholtz Wealth Management lifted its position in PROG by 45.6% in the fourth quarter. Ritholtz Wealth Management now owns 19,930 shares of the company's stock valued at $842,000 after purchasing an additional 6,246 shares during the period. Wedge Capital Management L L P NC boosted its holdings in PROG by 0.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company's stock valued at $3,130,000 after purchasing an additional 658 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in PROG by 4.1% during the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock worth $684,000 after purchasing an additional 631 shares during the period. Hedge funds and other institutional investors own 97.92% of the company's stock.

PROG Price Performance

PRG stock traded up $0.47 on Tuesday, reaching $26.36. The company had a trading volume of 709,559 shares, compared to its average volume of 454,639. The company's fifty day moving average is $26.76 and its 200 day moving average is $38.29. The company has a market cap of $1.08 billion, a P/E ratio of 5.81 and a beta of 1.96. 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 Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.08. The business had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. On average, research analysts forecast 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 was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.13 per share. This is a boost from PROG's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Thursday, March 13th. PROG's dividend payout ratio (DPR) is currently 10.66%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRG. Loop Capital reduced their price target on PROG from $45.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, April 24th. KeyCorp decreased their target price on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Stephens reiterated an "overweight" rating and issued a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Finally, Jefferies Financial Group cut PROG from a "buy" rating to a "hold" rating and lowered their price target for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Two research 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $44.83.

Insider Transactions at PROG

In related news, Director Douglas C. Curling bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $29.88 per share, with a total value of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. The trade was a 27.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the purchase, the director now owns 18,291 shares of the company's stock, valued at $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.21% of the company's stock.

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.