Natixis Advisors LLC Boosts Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Natixis Advisors LLC boosted its stake in PROG Holdings, Inc. (NYSE:PRG) by 4.8% during the 3rd quarter, Holdings Channel reports. The firm owned 14,661 shares of the company’s stock after buying an additional 675 shares during the quarter. Natixis Advisors LLC’s holdings in PROG were worth $711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PRG. Whittier Trust Co. purchased a new position in PROG during the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new position in shares of PROG in the third quarter valued at $33,000. GAMMA Investing LLC increased its position 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 purchasing an additional 337 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in PROG during the second quarter valued at $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in PROG during the first quarter valued at $59,000. Institutional investors own 97.92% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Steven A. Michaels sold 27,324 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 409,209 shares of the company’s stock, valued at $19,310,572.71. The trade was a 6.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Garner sold 15,484 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 92,236 shares in the company, valued at $4,452,231.72. The trade was a 14.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,207 shares of company stock valued at $5,759,152. Insiders own 2.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRG. Jefferies Financial Group lifted their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Raymond James upgraded shares of 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. KeyCorp raised their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. Finally, Stephens initiated coverage on shares of PROG in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

PROG Trading Down 1.9 %

Shares of NYSE PRG opened at $48.22 on Thursday. The business has a fifty day moving average price of $47.18 and a 200 day moving average price of $42.02. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year 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 stock has a market capitalization of $2.00 billion, a P/E ratio of 13.36 and a beta of 2.11.

PROG (NYSE:PRG) last posted 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 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. Equities research analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. PROG’s payout ratio is 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.