Meeder Asset Management Inc. Has $566,000 Stake in PROG Holdings, Inc. (NYSE:PRG)

Meeder Asset Management Inc. grew its holdings in PROG Holdings, Inc. (NYSE:PRG) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,398 shares of the company’s stock after purchasing an additional 2,954 shares during the quarter. Meeder Asset Management Inc.’s holdings in PROG were worth $566,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PRG. LPL Financial LLC lifted its position in 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 buying an additional 458 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of 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 in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of PROG by 0.9% during 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 during the last quarter. KBC Group NV increased its holdings in shares of PROG by 53.9% in the fourth quarter. KBC Group NV now owns 2,015 shares of the company’s stock valued at $85,000 after purchasing an additional 706 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position 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 last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Performance

PRG stock opened at $26.59 on Tuesday. PROG Holdings, Inc. has a twelve month low of $25.93 and a twelve month high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.09 billion, a P/E ratio of 5.86 and a beta of 2.14. The business’s fifty day moving average is $34.02 and its 200-day moving average is $41.66.

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

PROG Increases Dividend

The company also recently disclosed 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 was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. This is a boost from PROG’s previous quarterly dividend of $0.12. PROG’s payout ratio is currently 10.57%.

Insiders Place Their Bets

In other PROG news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $28.01 per share, with a total value of $46,216.50. Following the completion of the purchase, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Douglas C. Curling purchased 10,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost 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 $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.