Fox Run Management L.L.C. Acquires 1,061 Shares of PROG Holdings, Inc. (NYSE:PRG)

Fox Run Management L.L.C. boosted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 19.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,558 shares of the company’s stock after acquiring an additional 1,061 shares during the period. Fox Run Management L.L.C.’s holdings in PROG were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PRG. Stifel Financial Corp purchased a new stake in shares of PROG during the 3rd quarter valued at about $1,046,000. Proficio Capital Partners LLC purchased a new stake in PROG during the fourth quarter valued at approximately $527,000. Smartleaf Asset Management LLC raised its position in PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock valued at $51,000 after purchasing an additional 707 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of PROG by 9.9% in the 4th quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company’s stock valued at $15,951,000 after purchasing an additional 34,020 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in shares of PROG by 170.7% in the 4th quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company’s stock worth $10,521,000 after purchasing an additional 157,006 shares during the period. Institutional investors own 97.92% of the company’s stock.

PROG Trading Down 0.3 %

NYSE PRG opened at $27.40 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of 6.04 and a beta of 2.14. PROG Holdings, Inc. has a 12 month low of $25.93 and a 12 month high of $50.28. The company’s 50-day moving average price is $34.68 and its 200-day moving average price is $41.96. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99.

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

PROG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. This is a boost from PROG’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. PROG’s dividend payout ratio is currently 10.57%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PRG shares. TD Cowen upgraded PROG to a “strong-buy” rating in a research report on Friday, November 29th. Jefferies Financial Group lowered shares of PROG from a “buy” rating to a “hold” rating and lowered their target price for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Insider Transactions at PROG

In other PROG news, Director Douglas C. Curling acquired 10,000 shares of PROG stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the purchase, the director now directly owns 45,913 shares of the company’s stock, valued at approximately $1,371,880.44. This represents a 27.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the transaction, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.74% of the company’s stock.

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.