PROG Holdings, Inc. (NYSE:PRG) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP lifted its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 2,008.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,550 shares of the company's stock after buying an additional 170,080 shares during the quarter. Marshall Wace LLP owned approximately 0.43% of PROG worth $7,546,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PRG. Summit Securities Group LLC acquired a new position in PROG in the 4th quarter valued at $38,000. Sterling Capital Management LLC increased its position in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after purchasing an additional 957 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of PROG by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock valued at $57,000 after purchasing an additional 977 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of PROG during the 4th quarter valued at $68,000. Institutional investors and hedge funds own 97.92% of the company's stock.

Insiders Place Their Bets

In related news, Director Douglas C. Curling bought 10,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $29.88 per share, with a total value of $298,800.00. Following the transaction, the director now owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of PROG stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the transaction, the director now directly owns 18,291 shares of the company's stock, valued at approximately $512,330.91. The trade was a 9.92 % increase in their position. The disclosure for this purchase can be found here. 3.21% of the stock is owned by company insiders.

PROG Stock Up 2.9 %

NYSE PRG opened at $26.52 on Wednesday. The stock has a market cap of $1.08 billion, a PE ratio of 5.84 and a beta of 1.96. The business has a 50 day moving average price of $27.91 and a two-hundred day moving average price of $38.98. PROG Holdings, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $623.30 million during the quarter, compared to analyst estimates of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business's revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. As a group, sell-side analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from PROG's previous quarterly dividend of $0.12. PROG's dividend payout ratio (DPR) is 11.45%.

Analyst Upgrades and Downgrades

PRG has been the topic of a number of research analyst reports. Stephens reiterated an "overweight" rating and issued a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. Jefferies Financial Group lowered shares of PROG from a "buy" rating to a "hold" rating and cut their price target for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $49.00.

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.

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