GSA Capital Partners LLP Has $223,000 Position in PROG Holdings, Inc. (NYSE:PRG)

GSA Capital Partners LLP lowered its stake in PROG Holdings, Inc. (NYSE:PRG) by 89.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,608 shares of the company’s stock after selling 40,773 shares during the quarter. GSA Capital Partners LLP’s holdings in PROG were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in PROG during the first quarter worth approximately $815,000. State Board of Administration of Florida Retirement System boosted its stake in PROG by 54.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,399 shares of the company’s stock valued at $703,000 after purchasing an additional 7,180 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in PROG by 8.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,065 shares of the company’s stock valued at $1,414,000 after buying an additional 3,120 shares in the last quarter. Burney Co. bought a new position in PROG during the 1st quarter worth $2,397,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG during the first quarter worth $59,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stephens started coverage on shares of PROG in a research report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price target on the stock. Jefferies Financial Group raised their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. KeyCorp boosted their price target on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Raymond James upgraded 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, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and upped their target price for the company from $41.00 to $55.00 in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

Insider Transactions at PROG

In other PROG news, insider Michael Todd King sold 1,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the sale, the insider now owns 37,017 shares in the company, valued at approximately $1,738,688.49. The trade was a 3.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven A. Michaels sold 27,324 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.19, for a total value of $1,289,419.56. Following the transaction, the chief executive officer now owns 409,209 shares of the company’s stock, valued at $19,310,572.71. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,207 shares of company stock worth $5,759,152. Insiders own 2.74% of the company’s stock.

PROG Stock Performance

NYSE:PRG opened at $47.43 on Monday. 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 firm has a market capitalization of $1.97 billion, a PE ratio of 13.14 and a beta of 2.11. PROG Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $50.28. The stock’s 50-day simple moving average is $47.09 and its 200 day simple moving average is $41.78.

PROG (NYSE:PRG) last announced 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. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. During the same period in the previous year, the firm posted $0.90 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.01%. PROG’s dividend payout ratio is presently 13.30%.

PROG 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.