Los Angeles Capital Management LLC Buys New Holdings in PROG Holdings, Inc. (NYSE:PRG)

Los Angeles Capital Management LLC purchased a new stake in shares of PROG Holdings, Inc. (NYSE:PRGFree Report) in the third quarter, HoldingsChannel.com reports. The firm purchased 40,670 shares of the company’s stock, valued at approximately $1,972,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. grew its holdings in shares of PROG by 83.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after purchasing an additional 118,698 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in PROG by 45.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,994 shares of the company’s stock worth $2,199,000 after buying an additional 19,924 shares during the period. Keeley Teton Advisors LLC increased its position in shares of PROG by 35.3% in the first quarter. Keeley Teton Advisors LLC now owns 49,574 shares of the company’s stock worth $1,707,000 after acquiring an additional 12,928 shares in the last quarter. Sei Investments Co. purchased a new position in shares of PROG in the 1st quarter valued at $815,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of PROG in the 2nd quarter valued at $8,794,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Stock Performance

Shares of PRG opened at $48.84 on Thursday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 13.65 and a beta of 2.11. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $46.80 and its two-hundred day moving average is $41.04. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28.

PROG (NYSE:PRGGet Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.55% and a return on equity of 24.56%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Analysts forecast that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a $0.12 dividend. 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 0.98%. PROG’s dividend payout ratio (DPR) is 13.30%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRG. Jefferies Financial Group increased their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Stephens initiated coverage on PROG in a report on Wednesday. They set an “overweight” rating and a $60.00 target price on the stock. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $55.00 in a report on Monday, August 19th. 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 note on Thursday, October 24th. Finally, KeyCorp upped their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

View Our Latest Research Report on PROG

Insider Activity at PROG

In other PROG news, insider Michael Todd King sold 1,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the transaction, the insider now owns 37,017 shares of the company’s stock, valued at $1,738,688.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Steven A. Michaels sold 27,324 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the completion of the sale, the chief executive officer now owns 409,209 shares of the company’s stock, valued at $19,310,572.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Todd King sold 1,500 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the sale, the insider now owns 37,017 shares in the company, valued at approximately $1,738,688.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,707 shares of company stock valued at $5,588,072 over the last three months. 2.74% of the stock is owned by insiders.

PROG Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROG Holdings, Inc. (NYSE:PRGFree Report).

Institutional Ownership by Quarter for PROG (NYSE:PRG)

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