PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 697,964 shares of the company's stock after selling 29,283 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.68% of PROG worth $33,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in PROG during the first quarter valued at about $59,000. SG Americas Securities LLC boosted its position in PROG by 954.5% during the second quarter. SG Americas Securities LLC now owns 50,574 shares of the company's stock valued at $1,754,000 after purchasing an additional 45,778 shares in the last quarter. Diversified Trust Co boosted its position in PROG by 8.4% during the second quarter. Diversified Trust Co now owns 7,329 shares of the company's stock valued at $254,000 after purchasing an additional 569 shares in the last quarter. Blue Trust Inc. boosted its position in PROG by 2,015.1% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock valued at $68,000 after purchasing an additional 1,874 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in PROG by 1.3% during the second quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company's stock valued at $10,111,000 after purchasing an additional 3,750 shares in the last quarter. Institutional investors own 97.92% of the company's stock.

PROG Price Performance

Shares of PROG stock traded down $0.37 on Wednesday, reaching $47.74. The company's stock had a trading volume of 62,620 shares, compared to its average volume of 406,624. 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 stock has a 50-day moving average price of $47.12 and a 200-day moving average price of $42.32. The company has a market capitalization of $1.98 billion, a P/E ratio of 13.33 and a beta of 2.15. PROG Holdings, Inc. has a 52-week low of $27.84 and a 52-week high of $50.28.

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, topping analysts' consensus estimates of $0.76 by $0.01. The firm had revenue of $606.10 million for 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%. The business's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were given a $0.12 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. PROG's dividend payout ratio is currently 13.30%.

Analyst Upgrades and Downgrades

PRG has been the topic of a number of recent research reports. Raymond James raised PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target on PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. TD Cowen raised PROG to a "strong-buy" rating in a report on Friday, November 29th. KeyCorp raised their price target on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. Finally, Stephens started coverage on PROG in a research note on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $53.83.

Insider Activity at PROG

In related news, Director Curtis Linn Doman sold 62,815 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $48.75, for a total transaction of $3,062,231.25. Following the transaction, the director now owns 174,524 shares of the company's stock, valued at approximately $8,508,045. This represents a 26.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Garner sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,309,518.80. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,207 shares of company stock worth $5,759,152. 2.74% of the stock is currently owned by company insiders.

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.