Empowered Funds LLC Sells 21,464 Shares of PROG Holdings, Inc. (NYSE:PRG)

Empowered Funds LLC reduced its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 21.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,506 shares of the company's stock after selling 21,464 shares during the quarter. Empowered Funds LLC owned 0.19% of PROG worth $3,855,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of PROG during the third quarter valued at approximately $1,972,000. Financial Management Professionals Inc. bought a new stake in shares of PROG in the 3rd quarter worth $33,000. DekaBank Deutsche Girozentrale purchased a new position in shares of PROG in the third quarter worth $83,000. Assenagon Asset Management S.A. bought a new position in shares of PROG during the third quarter valued at $19,079,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of PROG during the third quarter valued at $3,080,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRG has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on PROG from $40.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Loop Capital upgraded shares of PROG from a "hold" rating to a "buy" rating and increased their price objective for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Stephens assumed coverage on shares of PROG in a report on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Finally, KeyCorp raised their price target on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.83.

Insider Activity

In related news, VP George M. Sewell sold 3,500 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total transaction of $171,080.00. Following the completion of the transaction, the vice president now owns 12,639 shares in the company, valued at $617,794.32. The trade was a 21.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Garner sold 5,000 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the completion of the transaction, the chief financial officer now directly owns 107,720 shares in the company, valued at $5,309,518.80. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,207 shares of company stock worth $5,759,152. 2.74% of the stock is currently owned by insiders.

PROG Stock Performance

Shares of PROG stock traded down $0.27 on Tuesday, hitting $46.81. 203,410 shares of the company's stock were exchanged, compared to its average volume of 408,771. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a 50-day simple moving average of $47.00 and a 200-day simple moving average of $41.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The stock has a market capitalization of $1.94 billion, a PE ratio of 12.97 and a beta of 2.11.

PROG (NYSE:PRG - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, November 19th. PROG's payout ratio is presently 13.30%.

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.