17,895 Shares in PROG Holdings, Inc. (NYSE:PRG) Purchased by XTX Topco Ltd

XTX Topco Ltd acquired a new position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,895 shares of the company's stock, valued at approximately $868,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in PROG by 1.6% during the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company's stock worth $20,090,000 after purchasing an additional 6,517 shares during the period. Weiss Asset Management LP acquired a new position in PROG during the third quarter worth about $560,000. State Street Corp raised its stake in PROG by 6.9% during the third quarter. State Street Corp now owns 1,776,377 shares of the company's stock worth $86,137,000 after acquiring an additional 114,498 shares in the last quarter. Stifel Financial Corp acquired a new position in PROG during the third quarter worth about $1,046,000. Finally, Quarry LP raised its stake in PROG by 162.9% during the third quarter. Quarry LP now owns 1,517 shares of the company's stock worth $74,000 after acquiring an additional 940 shares in the last quarter. Institutional investors own 97.92% of the company's stock.

Insider Buying and Selling

In related news, CEO Steven A. Michaels sold 27,324 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.19, for a total value of $1,289,419.56. Following the completion of the sale, the chief executive officer now directly owns 409,209 shares of the company's stock, valued at approximately $19,310,572.71. This represents a 6.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Todd King sold 1,500 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $46.97, for a total value of $70,455.00. Following the sale, the insider now directly owns 37,017 shares of the company's stock, valued at approximately $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock worth $5,759,152 in the last ninety days. Corporate insiders own 2.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PRG shares. KeyCorp boosted their target price on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. TD Cowen raised PROG to a "strong-buy" rating in a research note on Friday, November 29th. Raymond James raised PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research note on Thursday, October 24th. Jefferies Financial Group upped their price objective on PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Finally, Stephens assumed coverage on PROG in a research note on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $53.83.

PROG Trading Up 1.4 %

NYSE:PRG traded up $0.65 on Wednesday, reaching $48.12. 341,179 shares of the stock traded hands, compared to its average volume of 406,443. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.41 and a beta of 2.15. The company's 50 day moving average is $47.00 and its 200-day moving average is $42.81. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. PROG Holdings, Inc. has a 1-year low of $27.84 and a 1-year high of $50.28.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. The firm had revenue of $606.10 million for the quarter, compared to analysts' expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. Equities research 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 issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, November 19th. PROG's dividend payout ratio is currently 13.30%.

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.