Burney Co. Has $1.71 Million Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Burney Co. trimmed its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 59.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,343 shares of the company’s stock after selling 59,853 shares during the period. Burney Co.’s holdings in PROG were worth $1,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after buying an additional 337 shares in the last quarter. Diversified Trust Co lifted its position in shares of PROG by 7.1% in the 3rd quarter. Diversified Trust Co now owns 7,849 shares of the company’s stock valued at $381,000 after acquiring an additional 520 shares in the last quarter. Inspire Advisors LLC boosted its stake in PROG by 4.2% in the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company’s stock worth $625,000 after purchasing an additional 525 shares during the period. Whittier Trust Co. purchased a new position in PROG during the 3rd quarter worth approximately $26,000. Finally, Financial Management Professionals Inc. acquired a new stake in PROG during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Insider Activity at PROG

In other news, CFO Brian Garner sold 5,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the transaction, the chief financial officer now owns 107,720 shares of the company’s stock, valued at approximately $5,309,518.80. This represents a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Curtis Linn Doman sold 62,815 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $48.75, for a total value of $3,062,231.25. Following the completion of the sale, the director now owns 174,524 shares of the company’s stock, valued at approximately $8,508,045. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,207 shares of company stock valued at $5,759,152. Insiders own 2.74% of the company’s stock.

Analysts Set New Price Targets

PRG has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of PROG in a research report on Thursday, January 2nd. TD Cowen upgraded PROG to a “strong-buy” rating in a report on Friday, November 29th. Finally, Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PROG presently has an average rating of “Buy” and a consensus target price of $53.83.

PROG Stock Performance

Shares of NYSE PRG opened at $42.90 on Friday. PROG Holdings, Inc. has a one year low of $27.84 and a one year high of $50.28. The business’s 50-day moving average price is $45.10 and its two-hundred day moving average price is $44.03. 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 company has a market capitalization of $1.78 billion, a P/E ratio of 11.88 and a beta of 2.17.

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

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.12%. PROG’s dividend payout ratio is currently 13.30%.

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.