PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,506 shares of the company’s stock after selling 21,464 shares during the period. Empowered Funds LLC owned approximately 0.19% of PROG worth $3,855,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in PROG during the third quarter worth $19,079,000. Diversify Wealth Management LLC acquired a new position in shares of PROG during the 2nd quarter worth $8,794,000. SG Capital Management LLC purchased a new position in shares of PROG in the 1st quarter valued at about $5,932,000. Fourth Sail Capital LP acquired a new stake in shares of PROG in the second quarter valued at about $5,500,000. Finally, Millennium Management LLC boosted its holdings in PROG by 497.6% during the second quarter. Millennium Management LLC now owns 160,896 shares of the company’s stock worth $5,580,000 after buying an additional 133,972 shares in the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Trading Down 1.1 %

PROG stock opened at $47.19 on Tuesday. The stock has a 50-day moving average price of $46.95 and a 200 day moving average price of $41.44. PROG Holdings, Inc. has a 52 week low of $26.39 and a 52 week high of $50.28. The stock has a market cap of $1.96 billion, a PE ratio of 13.07 and a beta of 2.11. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. Equities research analysts predict that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s dividend payout ratio is presently 13.30%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PRG. TD Cowen lifted their price target on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Stephens began coverage on PROG in a report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price objective for the company. Jefferies Financial Group upped their target price on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. KeyCorp lifted their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.83.

Insider Transactions at PROG

In related news, Director Curtis Linn Doman sold 62,815 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $48.75, for a total transaction of $3,062,231.25. Following the transaction, the director now directly owns 174,524 shares in the company, valued at approximately $8,508,045. This represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the completion of the sale, the chief financial officer now owns 107,720 shares of the company’s stock, valued at $5,309,518.80. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock worth $5,759,152 over the last quarter. 2.74% of the stock is currently owned by 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.