Barclays PLC Acquires 64,197 Shares of PROG Holdings, Inc. (NYSE:PRG)

Barclays PLC raised its holdings in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 22.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,155 shares of the company's stock after acquiring an additional 64,197 shares during the quarter. Barclays PLC owned 0.84% of PROG worth $16,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of PROG during the third quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in PROG during the 3rd quarter worth about $33,000. GAMMA Investing LLC lifted its stake in PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after buying an additional 337 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of PROG in the second quarter worth about $47,000. Finally, Blue Trust Inc. increased its position in shares of PROG by 2,015.1% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company's stock worth $68,000 after acquiring an additional 1,874 shares in the last quarter. Institutional investors own 97.92% of the company's stock.

PROG Stock Down 6.3 %

Shares of NYSE:PRG traded down $2.98 during trading on Friday, reaching $44.13. 453,470 shares of the company traded hands, compared to its average volume of 406,266. PROG Holdings, Inc. has a 1-year low of $27.84 and a 1-year high of $50.28. 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 cap of $1.83 billion, a P/E ratio of 12.22 and a beta of 2.15. The firm has a fifty day simple moving average of $46.96 and a 200 day simple moving average of $43.04.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $601.86 million. During the same quarter last year, the firm earned $0.90 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. Analysts anticipate that PROG Holdings, Inc. will post 3.36 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Tuesday, November 19th. PROG's dividend payout ratio (DPR) is presently 13.30%.

Analysts Set New Price Targets

PRG has been the subject of several research analyst reports. TD Cowen upgraded shares of PROG to a "strong-buy" rating in a research report on Friday, November 29th. Raymond James raised shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 target price on the stock in a research note on Thursday, October 24th. 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 initiated coverage on PROG in a report on Wednesday, November 13th. They set an "overweight" rating and a $60.00 price target on the stock. Finally, Loop Capital raised PROG from a "hold" rating to a "buy" rating and increased their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PROG presently has an average rating of "Buy" and a consensus target price of $53.83.

Insiders Place Their Bets

In other PROG news, VP George M. Sewell sold 3,500 shares of the business's stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Todd King sold 1,500 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the sale, the insider now 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 sold 119,207 shares of company stock valued at $5,759,152 over the last ninety days. Corporate insiders own 2.74% of the company's stock.

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.