PROG Holdings, Inc. (NYSE:PRG) Shares Bought by Barclays PLC

Barclays PLC lifted its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 22.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 347,155 shares of the company’s stock after purchasing an additional 64,197 shares during the period. Barclays PLC’s holdings in PROG were worth $16,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its position in shares of PROG by 1.3% during the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares during the last quarter. State Street Corp grew its position in 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 last quarter. D. E. Shaw & Co. Inc. increased its stake in PROG by 0.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock valued at $31,076,000 after purchasing an additional 6,803 shares during the period. American Century Companies Inc. raised its holdings in shares of PROG by 14.1% in the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock valued at $23,746,000 after buying an additional 84,497 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of PROG by 1.6% during the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after buying an additional 6,517 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Trading Down 6.3 %

NYSE:PRG opened at $44.13 on Friday. PROG Holdings, Inc. has a 1 year low of $27.84 and a 1 year high of $50.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The stock has a fifty day moving average price of $46.96 and a two-hundred day moving average price of $42.99. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 12.22 and a beta of 2.15.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 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 firm had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.36 earnings per share for the current fiscal year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Tuesday, November 19th. PROG’s dividend payout ratio is currently 13.30%.

Insider Activity at PROG

In other news, VP George M. Sewell sold 3,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the transaction, the vice president now owns 12,639 shares in the company, valued at $617,794.32. This trade represents a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven A. Michaels sold 27,324 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the completion of the sale, the chief executive officer now owns 409,209 shares in the company, valued at $19,310,572.71. This represents a 6.26 % 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. Corporate insiders own 2.74% of the company’s stock.

Wall Street Analyst Weigh In

PRG has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Stephens began coverage on PROG in a research note on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price target for the company. KeyCorp increased 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. Raymond James raised 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. Finally, TD Cowen upgraded shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PROG has an average rating of “Buy” and a consensus target price of $53.83.

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.