Amalgamated Bank Sells 815 Shares of PROG Holdings, Inc. (NYSE:PRG)

Amalgamated Bank reduced its position in PROG Holdings, Inc. (NYSE:PRG) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,416 shares of the company’s stock after selling 815 shares during the quarter. Amalgamated Bank’s holdings in PROG were worth $602,000 as of its most recent filing with the SEC.

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

PROG Stock Performance

Shares of NYSE:PRG opened at $47.72 on Friday. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 13.22 and a beta of 2.11. PROG Holdings, Inc. has a 12 month low of $26.39 and a 12 month high of $50.28. The company has a 50-day moving average price of $46.92 and a 200-day moving average price of $41.23.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. As a group, equities analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. PROG’s dividend payout ratio (DPR) is currently 13.30%.

Analyst Upgrades and Downgrades

PRG has been the topic of a number of recent research reports. KeyCorp raised their price objective 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. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their target price for the company from $41.00 to $55.00 in a report on Monday, August 19th. Finally, Stephens initiated coverage on PROG in a research report on Wednesday. They set an “overweight” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.83.

Insider Buying and Selling

In other news, insider Michael Todd King sold 1,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 37,017 shares in the company, valued at $1,738,688.49. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curtis Linn Doman sold 62,815 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $48.75, for a total transaction of $3,062,231.25. Following the completion of the transaction, the director now owns 174,524 shares in the company, valued at approximately $8,508,045. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock valued at $5,759,152 over the last quarter. Corporate insiders own 2.74% of the company’s stock.

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.