PROG Holdings, Inc. (NYSE:PRG) Shares Bought by Inspire Advisors LLC

Inspire Advisors LLC grew its stake in PROG Holdings, Inc. (NYSE:PRG) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,894 shares of the company’s stock after purchasing an additional 1,010 shares during the period. Inspire Advisors LLC’s holdings in PROG were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRG. FMR LLC increased its holdings in shares of PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after purchasing an additional 30,030 shares in the last quarter. State Street Corp increased its holdings in PROG by 6.9% in the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock valued at $86,137,000 after buying an additional 114,498 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of PROG by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock worth $32,951,000 after acquiring an additional 209,805 shares during the period. Wellington Management Group LLP boosted its stake in shares of PROG by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after acquiring an additional 6,517 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of PROG by 9.9% during the 4th quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company’s stock valued at $15,951,000 after acquiring an additional 34,020 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Caroline Sio-Chin Sheu acquired 1,650 shares of PROG stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price 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 $512,330.91. This represents a 9.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Curling bought 10,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was bought at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the acquisition, the director now owns 45,913 shares in the company, valued at $1,371,880.44. This represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and reduced their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Finally, TD Cowen raised shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PROG currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

PROG Price Performance

NYSE:PRG opened at $26.86 on Wednesday. The firm has a market cap of $1.10 billion, a P/E ratio of 5.92 and a beta of 2.14. The stock has a 50 day moving average of $38.25 and a two-hundred day moving average of $43.55. PROG Holdings, Inc. has a 12 month low of $26.52 and a 12 month high of $50.28. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. On average, analysts expect that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th will be paid a $0.13 dividend. This is an increase from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, March 13th. PROG’s dividend payout ratio (DPR) is currently 10.57%.

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.