53,586 Shares in PROG Holdings, Inc. (NYSE:PRG) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 53,586 shares of the company's stock, valued at approximately $2,598,000. Intech Investment Management LLC owned 0.13% of PROG at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRG. Whittier Trust Co. purchased a new stake in PROG during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG during the third quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after acquiring an additional 337 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in PROG in the second quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in PROG during the 1st quarter worth approximately $59,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Stock Performance

NYSE:PRG traded up $1.09 during trading hours on Friday, reaching $47.43. 362,241 shares of the company's stock were exchanged, compared to its average volume of 377,977. 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 firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.14 and a beta of 2.11. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The company has a 50-day moving average of $47.09 and a 200 day moving average of $41.78.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 firm had revenue of $606.10 million for the quarter, compared to analysts' expectations of $601.86 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. PROG's dividend payout ratio (DPR) is 13.30%.

Insider Activity at PROG

In related news, VP George M. Sewell sold 3,500 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was 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. This represents a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Todd King sold 1,500 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $46.97, for a total value of $70,455.00. Following the completion of the sale, the insider now directly owns 37,017 shares of the company's stock, valued at approximately $1,738,688.49. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock worth $5,759,152 in the last three months. Insiders own 2.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRG. KeyCorp raised their price objective on shares of PROG from $46.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their target price on PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Stephens assumed coverage on PROG in a report on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 price target for the company. Loop Capital raised shares of PROG from a "hold" rating to a "buy" rating and increased their target price for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, Raymond James raised shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.83.

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.