Fmr LLC Boosts Holdings in PROG Holdings, Inc. (NYSE:PRG)

FMR LLC boosted its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,430,318 shares of the company's stock after purchasing an additional 30,030 shares during the quarter. FMR LLC owned about 5.85% of PROG worth $117,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PRG. D. E. Shaw & Co. Inc. raised its position in shares of PROG by 0.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company's stock valued at $31,076,000 after buying an additional 6,803 shares in the last quarter. American Century Companies Inc. raised its position in PROG by 14.1% during the second quarter. American Century Companies Inc. now owns 684,705 shares of the company's stock valued at $23,746,000 after purchasing an additional 84,497 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in PROG during the third quarter worth about $19,079,000. Ceredex Value Advisors LLC boosted its holdings in shares of PROG by 1.3% in the 2nd quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company's stock worth $10,111,000 after purchasing an additional 3,750 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in shares of PROG during the 2nd quarter valued at about $8,794,000. 97.92% of the stock is currently owned by institutional investors.

PROG Trading Down 1.0 %

NYSE:PRG traded down $0.49 during mid-day trading on Thursday, reaching $47.38. 413,071 shares of the company's stock traded hands, compared to its average volume of 407,793. The company has a 50 day moving average price of $47.07 and a 200-day moving average price of $42.45. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.20 and a beta of 2.15. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. PROG Holdings, Inc. has a 12-month low of $27.84 and a 12-month high of $50.28.

PROG (NYSE:PRG - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. The company had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts predict that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, November 19th. PROG's dividend payout ratio is currently 13.30%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stephens began coverage on PROG in a research note on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 target price for the company. Jefferies Financial Group increased their target price on shares of PROG from $50.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. KeyCorp boosted their price target on shares of PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. 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. Finally, Loop Capital raised PROG from a "hold" rating to a "buy" rating and boosted their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. One research 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $53.83.

Insider Buying and Selling

In other PROG news, CFO Brian Garner sold 15,484 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.27, for a total transaction of $747,412.68. Following the completion of the transaction, the chief financial officer now owns 92,236 shares of the company's stock, valued at approximately $4,452,231.72. This trade represents a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP George M. Sewell sold 3,500 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total transaction of $171,080.00. Following the sale, the vice president now owns 12,639 shares in the company, valued at approximately $617,794.32. This trade represents a 21.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,207 shares of company stock valued at $5,759,152 over the last three months. 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.