PROG Holdings, Inc. (NYSE:PRG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 40.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,411 shares of the company's stock after buying an additional 13,186 shares during the quarter. Franklin Resources Inc. owned 0.11% of PROG worth $2,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PRG. Barclays PLC increased its position in shares of PROG by 22.7% during the 3rd quarter. Barclays PLC now owns 347,155 shares of the company's stock valued at $16,834,000 after purchasing an additional 64,197 shares during the last quarter. XTX Topco Ltd bought a new position in PROG during the third quarter valued at $868,000. Wellington Management Group LLP raised its stake in shares of PROG by 1.6% in the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company's stock valued at $20,090,000 after acquiring an additional 6,517 shares during the period. Weiss Asset Management LP purchased a new stake in PROG in the 3rd quarter worth about $560,000. Finally, State Street Corp lifted its stake in shares of PROG by 6.9% during the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company's stock worth $86,137,000 after acquiring an additional 114,498 shares during the last quarter. Institutional investors own 97.92% of the company's stock.

Insider Buying and Selling at PROG

In other PROG news, CFO Brian Garner sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the completion of the sale, the chief financial officer now directly owns 107,720 shares in the company, valued at $5,309,518.80. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Curtis Linn Doman sold 3,584 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.02, for a total value of $172,103.68. Following the transaction, the director now directly owns 250,940 shares in the company, valued at approximately $12,050,138.80. The trade was a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock worth $5,759,152 over the last quarter. Insiders own 2.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PRG shares. TD Cowen raised shares of PROG to a "strong-buy" rating in a research note on Friday, November 29th. Raymond James raised shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Thursday, October 24th. Jefferies Financial Group raised 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 began coverage on PROG in a report on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 price target for the company. Finally, KeyCorp raised their price objective on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $53.83.

PROG Stock Down 2.0 %

Shares of NYSE:PRG traded down $0.88 during trading hours on Friday, hitting $42.15. The company's stock had a trading volume of 154,916 shares, compared to its average volume of 406,484. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The firm's fifty day moving average price is $45.81 and its 200 day moving average price is $43.37. PROG Holdings, Inc. has a 52 week low of $27.84 and a 52 week high of $50.28. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.68 and a beta of 2.15.

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

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Tuesday, November 19th. PROG's payout ratio is currently 13.30%.

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.