Inspire Investing LLC Buys Shares of 19,710 PROG Holdings, Inc. (NYSE:PRG)

Inspire Investing LLC acquired a new stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,710 shares of the company's stock, valued at approximately $833,000.

Other large investors have also recently modified their holdings of the company. HB Wealth Management LLC lifted its position in shares of PROG by 4.1% in 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. Wedge Capital Management L L P NC boosted its stake in PROG by 0.9% during 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 during the last quarter. Ritholtz Wealth Management grew its holdings in PROG by 45.6% during the fourth quarter. Ritholtz Wealth Management now owns 19,930 shares of the company's stock worth $842,000 after buying an additional 6,246 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of PROG by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 45,411 shares of the company's stock worth $2,180,000 after acquiring an additional 13,186 shares in the last quarter. Finally, Barclays PLC increased its stake in PROG by 22.7% in the 3rd quarter. Barclays PLC now owns 347,155 shares of the company's stock valued at $16,834,000 after buying an additional 64,197 shares during the last quarter. Institutional investors own 97.92% of the company's stock.

Insider Buying and Selling

In related news, CFO Brian Garner sold 5,000 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the sale, the chief financial officer now owns 107,720 shares of the company's stock, valued at $5,309,518.80. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP George M. Sewell sold 3,500 shares of PROG stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total transaction of $171,080.00. Following the transaction, the vice president now owns 12,639 shares of the company's stock, valued at $617,794.32. The trade was a 21.69 % 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 valued at $5,759,152 over the last ninety days. 2.74% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRG. Raymond James raised 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. Stephens reissued an "overweight" rating and set a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. TD Cowen raised shares of PROG to a "strong-buy" rating in a report on Friday, November 29th. Finally, Jefferies Financial Group increased their price objective on PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $53.83.

PROG Price Performance

NYSE:PRG traded up $0.15 during mid-day trading on Friday, reaching $42.31. The stock had a trading volume of 185,715 shares, compared to its average volume of 255,943. PROG Holdings, Inc. has a one year low of $27.84 and a one year high of $50.28. The stock has a market capitalization of $1.76 billion, a P/E ratio of 11.72 and a beta of 2.17. The firm has a 50 day moving average price of $44.39 and a two-hundred day moving average price of $44.50. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

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

PROG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Tuesday, November 19th. PROG's dividend payout ratio (DPR) is presently 13.30%.

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.