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

LSV Asset Management cut its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 305,681 shares of the company’s stock after selling 51,100 shares during the quarter. LSV Asset Management owned 0.74% of PROG worth $12,918,000 as of its most recent SEC filing.

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

PROG Trading Up 0.1 %

PROG stock opened at $25.36 on Friday. The stock has a 50-day simple moving average of $30.31 and a 200 day simple moving average of $40.03. The stock 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 quick ratio of 2.34 and a current ratio of 5.24. PROG Holdings, Inc. has a 52 week low of $23.50 and a 52 week high of $50.28.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts expect that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PRG. Jefferies Financial Group cut PROG from a “buy” rating to a “hold” rating and decreased their price objective for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Stephens restated an “overweight” rating and issued a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Insider Buying and Selling

In other news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, with a total value of $46,216.50. Following the completion of the acquisition, the director now owns 18,291 shares of the company’s stock, valued at $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas C. Curling bought 10,000 shares of PROG stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, with a total value of $298,800.00. Following the transaction, the director now owns 45,913 shares of the company’s stock, valued at $1,371,880.44. This trade represents a 27.85 % increase in their position. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by insiders.

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.