Trexquant Investment LP Sells 127,854 Shares of PROG Holdings, Inc. (NYSE:PRG)

Trexquant Investment LP lessened its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 52.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,129 shares of the company’s stock after selling 127,854 shares during the period. Trexquant Investment LP owned approximately 0.27% of PROG worth $4,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PRG. Summit Securities Group LLC acquired a new position in shares of PROG in the fourth quarter valued at approximately $38,000. Smartleaf Asset Management LLC boosted its stake in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC increased its holdings in PROG by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after purchasing an additional 977 shares in the last quarter. Quarry LP raised its stake in shares of PROG by 162.9% in the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock valued at $74,000 after purchasing an additional 940 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of PROG in the fourth quarter valued at about $68,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on PRG shares. Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Stephens reiterated an “overweight” rating and issued a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. Two 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 stock. Based on data from MarketBeat.com, PROG has a consensus rating of “Moderate Buy” and an average target price of $49.00.

PROG Stock Down 2.6 %

NYSE:PRG opened at $25.07 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 5.52 and a beta of 1.96. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. PROG Holdings, Inc. has a twelve month low of $23.78 and a twelve month high of $50.28. The stock’s 50 day moving average price is $32.72 and its two-hundred day moving average price is $41.13.

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

PROG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.07%. PROG’s payout ratio is presently 10.57%.

Insider Activity at PROG

In related news, Director Douglas C. Curling acquired 10,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $29.88 per share, with a total value 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 $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the business’s 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 purchase, the director now owns 18,291 shares in the company, valued at $512,330.91. The trade was a 9.92 % increase in their position. The disclosure for this purchase can be found here. 2.74% of the stock is owned by company 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.