Dean Investment Associates LLC Sells 16,021 Shares of PROG Holdings, Inc. (NYSE:PRG)

Dean Investment Associates LLC trimmed its position in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 19.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,921 shares of the company's stock after selling 16,021 shares during the quarter. Dean Investment Associates LLC owned approximately 0.16% of PROG worth $3,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in PROG in the 3rd quarter valued at about $19,079,000. Diversify Wealth Management LLC acquired a new position in shares of PROG in the second quarter valued at approximately $8,794,000. Fourth Sail Capital LP bought a new position in shares of PROG during the second quarter worth approximately $5,500,000. Millennium Management LLC increased its stake in shares of PROG by 497.6% during the second quarter. Millennium Management LLC now owns 160,896 shares of the company's stock worth $5,580,000 after purchasing an additional 133,972 shares during the period. Finally, Walleye Capital LLC boosted its stake in PROG by 476.7% in the 3rd quarter. Walleye Capital LLC now owns 150,495 shares of the company's stock valued at $7,298,000 after purchasing an additional 124,397 shares during the period. 97.92% of the stock is owned by institutional investors.

Insider Activity

In related news, VP George M. Sewell sold 3,500 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the sale, the vice president now directly owns 12,639 shares in the company, valued at $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian Garner sold 5,000 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total value of $246,450.00. Following the transaction, the chief financial officer now directly owns 107,720 shares of the company's stock, valued at approximately $5,309,518.80. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,207 shares of company stock worth $5,759,152. Insiders own 2.74% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRG. Raymond James raised shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 target price for the company in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Stephens initiated coverage on shares of PROG in a research report on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 price target for the company. TD Cowen raised PROG to a "strong-buy" rating in a research report on Friday, November 29th. Finally, Loop Capital upgraded PROG from a "hold" rating to a "buy" rating and upped their target price for the company from $41.00 to $55.00 in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $53.83.

PROG Price Performance

Shares of PRG stock traded down $0.01 during trading hours on Monday, reaching $46.88. The company's stock had a trading volume of 267,428 shares, compared to its average volume of 406,446. PROG Holdings, Inc. has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The firm's 50 day simple moving average is $47.03 and its 200-day simple moving average is $42.65. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 12.89 and a beta of 2.15.

PROG (NYSE:PRG - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. The firm had revenue of $606.10 million for the quarter, compared to analysts' expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. Sell-side analysts forecast that PROG Holdings, Inc. will post 3.36 earnings per share for the current year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. PROG's dividend payout ratio (DPR) is presently 13.30%.

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.