PROG Holdings, Inc. (NYSE:PRG) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 183,686 shares of the company's stock after acquiring an additional 20,656 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.44% of PROG worth $7,763,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PRG. Smartleaf Asset Management LLC boosted its stake in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after purchasing an additional 707 shares in the last quarter. Quarry LP lifted its stake in shares of PROG by 162.9% during the third quarter. Quarry LP now owns 1,517 shares of the company's stock worth $74,000 after buying an additional 940 shares during the period. KBC Group NV grew its holdings in shares of PROG by 53.9% during the fourth quarter. KBC Group NV now owns 2,015 shares of the company's stock valued at $85,000 after buying an additional 706 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of PROG in the 4th quarter valued at $101,000. Finally, Blue Trust Inc. raised its stake in PROG by 38.6% in the 4th quarter. Blue Trust Inc. now owns 3,691 shares of the company's stock worth $156,000 after acquiring an additional 1,027 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

Insider Buying and Selling at PROG

In other PROG news, Director Douglas C. Curling bought 10,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the transaction, the director now directly owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. This represents a 27.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the purchase, the director now directly owns 18,291 shares in the company, valued at $512,330.91. This trade represents a 9.92 % increase in their position. The disclosure for this purchase can be found here. 2.74% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

PROG Stock Performance

Shares of PRG stock traded down $0.68 on Friday, hitting $25.07. The company had a trading volume of 718,806 shares, compared to its average volume of 440,271. PROG Holdings, Inc. has a twelve month low of $23.78 and a twelve month 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. The firm has a market cap of $1.02 billion, a P/E ratio of 5.52 and a beta of 2.14. The company has a 50-day moving average price of $32.72 and a 200-day moving average price of $41.17.

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

PROG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.07%. The ex-dividend date 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 currently 10.57%.

About PROG

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.