State Street Corp Has $86.14 Million Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

State Street Corp increased its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,776,377 shares of the company's stock after purchasing an additional 114,498 shares during the period. State Street Corp owned about 4.28% of PROG worth $86,137,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRG. Whittier Trust Co. acquired a new stake in PROG during the third quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new position in PROG during the third quarter worth $33,000. GAMMA Investing LLC boosted its stake in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of PROG in the 2nd quarter worth about $47,000. Finally, Blue Trust Inc. increased its position in shares of PROG by 2,015.1% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock worth $68,000 after purchasing an additional 1,874 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP George M. Sewell sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the transaction, the vice president now directly owns 12,639 shares in the company, valued at approximately $617,794.32. The trade was a 21.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven A. Michaels sold 27,324 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the sale, the chief executive officer now owns 409,209 shares in the company, valued at $19,310,572.71. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,207 shares of company stock worth $5,759,152. Company insiders own 2.74% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PRG shares. Jefferies Financial Group raised their price objective on shares of PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. 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 note on Thursday, October 24th. Loop Capital upgraded PROG from a "hold" rating to a "buy" rating and raised their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp increased their price objective on shares of PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. Finally, TD Cowen upgraded shares of PROG to a "strong-buy" rating in a research report on Friday, November 29th. One 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 stock. According to data from MarketBeat, PROG currently has a consensus rating of "Buy" and an average target price of $53.83.

PROG Price Performance

PRG stock remained flat at $43.89 during midday trading on Tuesday. 509,935 shares of the company's stock were exchanged, compared to its average volume of 406,417. The stock's 50 day moving average price is $46.89 and its 200-day moving average price is $43.10. The stock has a market capitalization of $1.82 billion, a PE ratio of 12.16 and a beta of 2.15. PROG Holdings, Inc. has a 1 year low of $27.84 and a 1 year high of $50.28. 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 released 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. 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 company's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, equities analysts forecast that PROG Holdings, Inc. will post 3.36 earnings per share for the current fiscal year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, November 19th. PROG's payout ratio 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.