53,586 Shares in PROG Holdings, Inc. (NYSE:PRG) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in shares of PROG Holdings, Inc. (NYSE:PRG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 53,586 shares of the company’s stock, valued at approximately $2,598,000.

A number of other large investors have also recently added to or reduced their stakes in PRG. D. E. Shaw & Co. Inc. lifted its position in shares of PROG by 0.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares during 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 during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of PROG in the 3rd quarter worth approximately $19,079,000. Ceredex Value Advisors LLC increased its holdings in shares of 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 acquiring an additional 3,750 shares during the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of PROG during the 2nd quarter valued at approximately $8,794,000. 97.92% of the stock is currently owned by institutional investors.

Insider Activity at PROG

In other news, insider Michael Todd King sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $46.97, for a total value of $70,455.00. Following the completion of the sale, the insider now directly owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. This represents a 3.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian Garner sold 15,484 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.27, for a total transaction of $747,412.68. Following the transaction, the chief financial officer now owns 92,236 shares in the company, valued at $4,452,231.72. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,207 shares of company stock worth $5,759,152 in the last 90 days. Corporate insiders own 2.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PRG shares. Jefferies Financial Group boosted their target price on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Stephens began coverage on shares of PROG in a research report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price objective for the company. Loop Capital raised shares of 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. KeyCorp lifted their target price on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.83.

PROG Price Performance

Shares of NYSE:PRG opened at $47.43 on Friday. The firm’s 50 day moving average is $47.09 and its two-hundred day moving average is $41.74. The firm has a market capitalization of $1.97 billion, a P/E ratio of 13.14 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 Holdings, Inc. has a 52 week low of $26.39 and a 52 week high of $50.28.

PROG (NYSE:PRG) last posted its 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. PROG had a return on equity of 24.56% and a net margin of 6.55%. The firm had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same period last year, the firm earned $0.90 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s payout ratio is currently 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.