Amundi Boosts Position in PROG Holdings, Inc. (NYSE:PRG)

Amundi lifted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 126.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,397 shares of the company’s stock after purchasing an additional 13,052 shares during the quarter. Amundi owned about 0.06% of PROG worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PRG. Allianz Asset Management GmbH grew its holdings in shares of PROG by 36.8% during the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock worth $32,951,000 after purchasing an additional 209,805 shares during the period. Walleye Capital LLC grew its holdings in shares of PROG by 476.7% during the 3rd quarter. Walleye Capital LLC now owns 150,495 shares of the company’s stock worth $7,298,000 after purchasing an additional 124,397 shares during the period. State Street Corp grew its holdings in shares of PROG by 6.9% during the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after purchasing an additional 114,498 shares during the period. Atom Investors LP purchased a new position in shares of PROG during the 3rd quarter worth $4,979,000. Finally, Barclays PLC grew its holdings in shares of PROG by 22.7% during the 3rd quarter. Barclays PLC now owns 347,155 shares of the company’s stock worth $16,834,000 after purchasing an additional 64,197 shares during the period. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRG. Stephens reiterated an “overweight” rating and issued a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. TD Cowen upgraded PROG to a “strong-buy” rating in a report on Friday, November 29th. Finally, Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and cut their price objective for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.00.

PROG Trading Up 5.1 %

NYSE:PRG opened at $27.26 on Thursday. The firm has a market cap of $1.11 billion, a PE ratio of 6.00 and a beta of 2.14. The stock has a fifty day moving average price of $36.37 and a 200 day moving average price of $42.72. PROG Holdings, Inc. has a 12-month low of $25.93 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 earnings results 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 for the quarter, compared to analyst estimates of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. PROG’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Sell-side analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from PROG’s previous quarterly dividend of $0.12. PROG’s dividend payout ratio is 10.57%.

Insider Activity at PROG

In related news, Director Caroline Sio-Chin Sheu purchased 1,650 shares of PROG stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $28.01 per share, with a total value of $46,216.50. Following the completion of the transaction, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas C. Curling purchased 10,000 shares of PROG stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $29.88 per share, with a total value of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares of the company’s stock, valued at $1,371,880.44. The trade was 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 corporate insiders.

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.