Ritholtz Wealth Management Raises Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Ritholtz Wealth Management raised its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 45.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,930 shares of the company's stock after purchasing an additional 6,246 shares during the period. Ritholtz Wealth Management's holdings in PROG were worth $842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in PRG. GAMMA Investing LLC lifted its stake in PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock worth $39,000 after acquiring an additional 337 shares during the period. Diversified Trust Co raised its holdings in shares of PROG by 7.1% in the 3rd quarter. Diversified Trust Co now owns 7,849 shares of the company's stock valued at $381,000 after purchasing an additional 520 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of PROG by 4.2% in the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company's stock worth $625,000 after purchasing an additional 525 shares during the period. Whittier Trust Co. bought a new position in shares of PROG during the third quarter valued at approximately $26,000. Finally, Financial Management Professionals Inc. purchased a new position in PROG during the third quarter valued at approximately $33,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PRG shares. Stephens restated an "overweight" rating and set a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. 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 report on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Finally, TD Cowen upgraded shares of PROG to a "strong-buy" rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $53.83.

Insiders Place Their Bets

In other PROG news, CFO Brian Garner sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the transaction, the chief financial officer now directly owns 107,720 shares of the company's stock, valued at approximately $5,309,518.80. This trade represents a 4.44 % decrease in their position. The transaction 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 PROG stock in a transaction that occurred 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 of the company's stock, valued at approximately $617,794.32. The trade was a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,207 shares of company stock valued at $5,759,152. 2.74% of the stock is owned by company insiders.

PROG Stock Up 0.4 %

NYSE PRG traded up $0.17 during trading on Monday, hitting $43.07. The company's stock had a trading volume of 491,252 shares, compared to its average volume of 312,215. PROG Holdings, Inc. has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The company has a market cap of $1.79 billion, a PE ratio of 11.93 and a beta of 2.17. The business's 50 day simple moving average is $44.92 and its 200-day simple moving average is $44.23.

PROG (NYSE:PRG - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. The company had revenue of $606.10 million during the quarter, compared to analysts' expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. PROG's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. On average, equities analysts anticipate that PROG Holdings, Inc. will post 3.36 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. PROG's dividend payout ratio (DPR) is 13.30%.

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.