LSV Asset Management Sells 51,100 Shares of PROG Holdings, Inc. (NYSE:PRG)

LSV Asset Management trimmed its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 305,681 shares of the company’s stock after selling 51,100 shares during the quarter. LSV Asset Management’s holdings in PROG were worth $12,918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PRG. LPL Financial LLC raised its stake in PROG by 2.4% in the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock valued at $833,000 after purchasing an additional 458 shares in the last quarter. HB Wealth Management LLC increased its holdings in PROG by 4.1% in the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company’s stock valued at $684,000 after buying an additional 631 shares during the period. Wedge Capital Management L L P NC raised its position in shares of PROG by 0.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company’s stock valued at $3,130,000 after buying an additional 658 shares in the last quarter. KBC Group NV lifted its holdings in shares of PROG by 53.9% during the 4th quarter. KBC Group NV now owns 2,015 shares of the company’s stock worth $85,000 after acquiring an additional 706 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after acquiring an additional 707 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of PROG in a research report on Thursday, January 2nd. Jefferies Financial Group cut PROG from a “buy” rating to a “hold” rating and lowered their price target for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PROG currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

PROG Stock Performance

Shares of PROG stock opened at $25.36 on Friday. The company’s 50 day moving average price is $30.31 and its two-hundred day moving average price is $40.03. The firm has a market capitalization of $1.04 billion, a P/E ratio of 5.59 and a beta of 1.96. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. PROG Holdings, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $50.28.

PROG (NYSE:PRG) last issued its quarterly earnings data 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 return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $623.30 million for the quarter, compared to analyst estimates of $612.67 million. During the same quarter in the previous year, the company posted $0.72 EPS. PROG’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. This is an increase from PROG’s previous quarterly dividend of $0.12. PROG’s dividend payout ratio is currently 10.57%.

Insider Activity at PROG

In related news, Director Douglas C. Curling purchased 10,000 shares of PROG stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the transaction, the director now owns 45,913 shares of the company’s stock, valued at approximately $1,371,880.44. This represents a 27.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average price 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. The trade was a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.74% of the stock is 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.