PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 10.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 6,366 shares of the company’s stock after selling 731 shares during the period. Mutual of America Capital Management LLC’s holdings in PROG were worth $309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. increased its position in shares of PROG by 0.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares in the last quarter. American Century Companies Inc. boosted its stake in PROG by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after purchasing an additional 84,497 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of PROG in the third quarter valued at about $19,079,000. Ceredex Value Advisors LLC lifted its stake in shares of PROG by 1.3% in the second quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company’s stock worth $10,111,000 after buying an additional 3,750 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new position in PROG during the second quarter worth about $8,794,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRG shares. Jefferies Financial Group boosted their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. KeyCorp lifted their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $55.00 in a report on Monday, August 19th. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, October 24th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PROG presently has an average rating of “Moderate Buy” and an average target price of $53.83.

PROG Price Performance

Shares of PRG opened at $48.21 on Friday. The firm has a 50-day simple moving average of $47.18 and a two-hundred day simple moving average of $42.02. The stock has a market cap of $2.00 billion, a PE ratio of 13.35 and a beta of 2.11. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 firm had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter last year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s payout ratio is 13.30%.

Insiders Place Their Bets

In related news, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the sale, the chief financial officer now directly owns 107,720 shares in the company, valued at $5,309,518.80. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP George M. Sewell sold 3,500 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total transaction of $171,080.00. Following the completion of the sale, the vice president now directly owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This trade represents a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,207 shares of company stock valued at $5,759,152 in the last ninety days. Insiders own 2.74% of the company’s stock.

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.