102,671 Shares in PROG Holdings, Inc. (NYSE:PRG) Acquired by Atom Investors LP

Atom Investors LP acquired a new position in PROG Holdings, Inc. (NYSE:PRG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 102,671 shares of the company’s stock, valued at approximately $4,979,000. Atom Investors LP owned approximately 0.25% of PROG as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the business. FMR LLC grew its holdings in PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of PROG by 0.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock valued at $31,076,000 after purchasing an additional 6,803 shares in the last quarter. American Century Companies Inc. lifted its holdings in PROG by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after buying an additional 84,497 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in PROG in the 3rd quarter valued at $19,079,000. Finally, Ceredex Value Advisors LLC boosted its position in PROG by 1.3% in the 2nd quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company’s stock valued at $10,111,000 after buying an additional 3,750 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PRG shares. KeyCorp upped their price target on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Thursday, October 24th. TD Cowen upgraded PROG to a “strong-buy” rating in a report on Friday. Finally, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their target price for the stock from $41.00 to $55.00 in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $53.83.

Insiders Place Their Bets

In other news, CFO Brian Garner sold 15,484 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.27, for a total transaction of $747,412.68. Following the completion of the transaction, the chief financial officer now directly owns 92,236 shares in the company, valued at $4,452,231.72. This represents a 14.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP George M. Sewell sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 12,639 shares of the company’s stock, valued at $617,794.32. The trade was a 21.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,207 shares of company stock valued at $5,759,152 in the last quarter. 2.74% of the stock is currently owned by insiders.

PROG Price Performance

NYSE PRG opened at $48.66 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 13.48 and a beta of 2.11. The business has a 50 day simple moving average of $47.15 and a 200 day simple moving average of $42.24. PROG Holdings, Inc. has a 52-week low of $26.62 and a 52-week high of $50.28.

PROG (NYSE:PRG) last posted its quarterly earnings data 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 for 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%. The firm’s 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 EPS. Analysts anticipate that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s payout ratio is 13.30%.

About PROG

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.