PROG Holdings, Inc. (NYSE:PRG) Holdings Boosted by Blue Trust Inc.

Blue Trust Inc. grew its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 38.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,691 shares of the company’s stock after purchasing an additional 1,027 shares during the quarter. Blue Trust Inc.’s holdings in PROG were worth $156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. acquired a new stake in shares of PROG in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new stake in PROG in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC raised its stake in PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after acquiring an additional 337 shares in the last quarter. Quarry LP boosted its position in PROG by 162.9% during the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after acquiring an additional 940 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PROG in the third quarter worth $83,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael Todd King sold 1,500 shares of PROG stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the transaction, the insider now directly owns 37,017 shares in the company, valued at $1,738,688.49. The trade was a 3.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP George M. Sewell sold 3,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the sale, the vice president now directly owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,623 shares of company stock worth $5,340,598. Corporate insiders own 2.74% of the company’s stock.

PROG Stock Performance

Shares of PRG opened at $43.55 on Thursday. 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 firm’s 50 day moving average is $43.62 and its 200-day moving average is $45.00. PROG Holdings, Inc. has a 12-month low of $27.84 and a 12-month high of $50.28. The stock has a market capitalization of $1.81 billion, a P/E ratio of 12.06 and a beta of 2.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRG shares. 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. TD Cowen upgraded shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $53.83.

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.