PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,907 shares of the company's stock after selling 34,674 shares during the quarter. Sei Investments Co. owned approximately 0.18% of PROG worth $3,081,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. HB Wealth Management LLC grew its holdings in shares of PROG by 4.1% in the fourth quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock valued at $684,000 after purchasing an additional 631 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of PROG by 0.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company's stock valued at $3,130,000 after buying an additional 658 shares during the period. KBC Group NV increased its holdings in shares of PROG by 53.9% during the 4th quarter. KBC Group NV now owns 2,015 shares of the company's stock worth $85,000 after buying an additional 706 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after buying an additional 707 shares during the period. Finally, Quarry LP lifted its holdings in PROG by 162.9% in the third quarter. Quarry LP now owns 1,517 shares of the company's stock valued at $74,000 after acquiring an additional 940 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Stock Down 4.1 %

Shares of PRG traded down $1.03 during mid-day trading on Tuesday, reaching $23.99. The company's stock had a trading volume of 545,703 shares, compared to its average volume of 443,005. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. PROG Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28. The stock has a market cap of $979.08 million, a PE ratio of 5.28 and a beta of 1.96. The company's 50 day moving average is $31.65 and its 200 day moving average is $40.62.

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

PROG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.13 per share. This is a positive change from PROG's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 2.17%. PROG's dividend payout ratio (DPR) is presently 10.57%.

Insider Transactions at PROG

In other PROG news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the transaction, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. The trade was a 9.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas C. Curling purchased 10,000 shares of PROG stock in a transaction that occurred on Friday, February 21st. The stock was acquired 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 in the company, valued at $1,371,880.44. The trade was a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PRG shares. Jefferies Financial Group cut PROG from a "buy" rating to a "hold" rating and cut their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Stephens restated an "overweight" rating and issued a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.

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.