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

Barclays PLC raised its holdings in PROG Holdings, Inc. (NYSE:PRG) by 22.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,155 shares of the company’s stock after acquiring an additional 64,197 shares during the period. Barclays PLC owned approximately 0.84% of PROG worth $16,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PRG. Assenagon Asset Management S.A. acquired a new stake in PROG during the third quarter worth about $19,079,000. Diversify Wealth Management LLC purchased a new stake in shares of PROG in the 2nd quarter valued at approximately $8,794,000. Fourth Sail Capital LP acquired a new stake in shares of PROG during the 2nd quarter worth approximately $5,500,000. Millennium Management LLC raised its position in shares of PROG by 497.6% during the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company’s stock valued at $5,580,000 after buying an additional 133,972 shares during the period. Finally, Walleye Capital LLC lifted its holdings in PROG by 476.7% in the third quarter. Walleye Capital LLC now owns 150,495 shares of the company’s stock valued at $7,298,000 after acquiring an additional 124,397 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRG. Stephens assumed coverage on PROG in a research note on Wednesday, November 13th. They set an “overweight” rating and a $60.00 target price for the company. Jefferies Financial Group raised their price objective on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. TD Cowen raised shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and lifted their price target for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, KeyCorp upped their price objective on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $53.83.

Insider Buying and Selling at PROG

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

PROG Stock Down 6.3 %

Shares of NYSE:PRG opened at $44.13 on Friday. The firm has a market capitalization of $1.83 billion, a PE ratio of 12.22 and a beta of 2.15. 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 current ratio of 4.97 and a quick ratio of 2.34. The firm’s 50-day moving average is $46.96 and its two-hundred day moving average is $42.99.

PROG (NYSE:PRG) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The firm had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. During the same period last year, the business posted $0.90 earnings per share. PROG’s revenue was up 4.0% compared to the same quarter last year. Analysts predict that PROG Holdings, Inc. will post 3.36 EPS for the current year.

PROG Announces Dividend

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

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.