12,467 Shares in PROG Holdings, Inc. (NYSE:PRG) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in PROG Holdings, Inc. (NYSE:PRG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,467 shares of the company’s stock, valued at approximately $527,000.

Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in PROG in the third quarter valued at about $1,972,000. Natixis Advisors LLC increased its holdings in PROG by 4.8% in the third quarter. Natixis Advisors LLC now owns 14,661 shares of the company’s stock valued at $711,000 after buying an additional 675 shares during the last quarter. MAI Capital Management grew its holdings in shares of PROG by 146.1% during the third quarter. MAI Capital Management now owns 27,846 shares of the company’s stock valued at $1,350,000 after purchasing an additional 16,531 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of PROG by 47.9% during the third quarter. Meeder Asset Management Inc. now owns 10,444 shares of the company’s stock valued at $506,000 after purchasing an additional 3,384 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PROG during the third quarter valued at approximately $505,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Trading Down 1.4 %

NYSE PRG opened at $28.16 on Monday. PROG Holdings, Inc. has a 1-year low of $26.52 and a 1-year 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. The company has a market capitalization of $1.15 billion, a PE ratio of 6.20 and a beta of 2.14. The firm’s fifty day simple moving average is $38.85 and its 200-day simple moving average is $43.82.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business had revenue of $623.30 million for the quarter, compared to the consensus estimate of $612.67 million. During the same period in the prior year, the business posted $0.72 earnings per share. PROG’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.85%. PROG’s dividend payout ratio is 10.57%.

Wall Street Analyst Weigh In

PRG has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. TD Cowen upgraded PROG to a “strong-buy” rating in a research 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 research 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.00.

Insider Transactions at PROG

In other PROG news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the stock in a transaction on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $512,330.91. This represents a 9.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas C. Curling bought 10,000 shares of the stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the transaction, the director now directly owns 45,913 shares of the company’s stock, valued at approximately $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 company insiders.

PROG Company 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.