Veracity Capital LLC Buys New Shares in PROG Holdings, Inc. (NYSE:PRG)

Veracity Capital LLC purchased a new stake in PROG Holdings, Inc. (NYSE:PRG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,052 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRG. Assenagon Asset Management S.A. acquired a new position in shares of PROG during the third quarter valued at about $19,079,000. Millennium Management LLC raised its holdings in PROG by 497.6% in the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company’s stock valued at $5,580,000 after acquiring an additional 133,972 shares in the last quarter. Walleye Capital LLC lifted its position in shares of PROG by 476.7% in the 3rd quarter. Walleye Capital LLC now owns 150,495 shares of the company’s stock worth $7,298,000 after acquiring an additional 124,397 shares during the period. State Street Corp grew its holdings in shares of PROG by 6.9% during the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after purchasing an additional 114,498 shares in the last quarter. Finally, Atom Investors LP bought a new stake in shares of PROG during the third quarter valued at approximately $4,979,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Trading Up 0.4 %

Shares of PROG stock opened at $42.31 on Friday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 11.72 and a beta of 2.17. PROG Holdings, Inc. has a 12-month low of $27.84 and a 12-month high of $50.28. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $44.39 and a 200 day simple moving average of $44.41.

PROG (NYSE:PRG) last posted 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. The company had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. PROG’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Research analysts expect that PROG Holdings, Inc. will post 3.36 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were given a $0.12 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.13%. PROG’s payout ratio is 13.30%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, 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 completion of the transaction, the vice president now directly owns 12,639 shares of the company’s stock, valued at $617,794.32. The trade was a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Garner sold 5,000 shares of the company’s 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 in the company, valued at approximately $5,309,518.80. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,207 shares of company stock valued at $5,759,152. 2.74% of the stock is currently owned by corporate 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.