Inspire Investing LLC Purchases Shares of 19,710 PROG Holdings, Inc. (NYSE:PRG)

Inspire Investing LLC purchased a new stake in PROG Holdings, Inc. (NYSE:PRG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,710 shares of the company’s stock, valued at approximately $833,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of PROG by 1.3% in the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after purchasing an additional 30,030 shares in the last quarter. State Street Corp lifted its position in shares of PROG by 6.9% in the third 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 in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of PROG by 0.8% in 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. Wellington Management Group LLP lifted its position in shares of PROG by 1.6% in the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after purchasing an additional 6,517 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of PROG in the third quarter worth $19,079,000. Institutional investors own 97.92% of the company’s stock.

PROG Price Performance

NYSE:PRG opened at $42.31 on Friday. PROG Holdings, Inc. has a one year low of $27.84 and a one year high of $50.28. The company has a market cap of $1.76 billion, a P/E ratio of 11.72 and a beta of 2.17. The firm’s fifty day moving average price is $44.39 and its two-hundred day moving average price is $44.41. 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 released 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 for the quarter, compared to the consensus estimate of $601.86 million. During the same period in the previous year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts expect that PROG Holdings, Inc. will post 3.36 earnings per share for the current year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. PROG’s dividend payout ratio is currently 13.30%.

Insider Buying and Selling at PROG

In related news, VP George M. Sewell sold 3,500 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the transaction, the vice president now directly owns 12,639 shares in the company, valued at approximately $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Todd King sold 1,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the transaction, the insider now owns 37,017 shares in the company, valued at $1,738,688.49. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock worth $5,759,152 over the last ninety days. Insiders own 2.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRG. TD Cowen raised shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of PROG in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group upped their price target on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $53.83.

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.