Great Lakes Advisors LLC Grows Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Great Lakes Advisors LLC raised its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 170.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,964 shares of the company's stock after purchasing an additional 157,006 shares during the quarter. Great Lakes Advisors LLC owned 0.60% of PROG worth $10,521,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company's stock valued at $117,846,000 after purchasing an additional 30,030 shares during the last quarter. State Street Corp boosted its stake in shares of PROG by 6.9% in the third quarter. State Street Corp now owns 1,776,377 shares of the company's stock worth $86,137,000 after buying an additional 114,498 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of PROG by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock worth $32,951,000 after buying an additional 209,805 shares during the last quarter. Wellington Management Group LLP boosted 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 worth $20,090,000 after buying an additional 6,517 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of PROG by 9.9% in the fourth quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company's stock worth $15,951,000 after buying an additional 34,020 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

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Insider Buying and Selling at PROG

In other news, Director Douglas C. Curling bought 10,000 shares of PROG stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the acquisition, the director now directly owns 45,913 shares of the company's stock, valued at $1,371,880.44. The trade was a 27.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost 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. The trade was a 9.92 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.74% of the company's stock.

PROG Price Performance

NYSE PRG traded down $0.90 during trading hours on Thursday, reaching $26.14. The company's stock had a trading volume of 496,104 shares, compared to its average volume of 400,460. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 5.76 and a beta of 2.14. PROG Holdings, Inc. has a 1-year low of $26.03 and a 1-year high of $50.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The company's 50-day moving average is $37.62 and its two-hundred day moving average is $43.31.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $623.30 million during the quarter, compared to analysts' expectations of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. PROG's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, equities analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from PROG's previous quarterly dividend of $0.12. PROG's dividend payout ratio is presently 10.57%.

Analyst Ratings Changes

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

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.