Algert Global LLC Trims Holdings in PROG Holdings, Inc. (NYSE:PRG)

Algert Global LLC cut its holdings in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 44.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,308 shares of the company's stock after selling 44,768 shares during the quarter. Algert Global LLC owned 0.14% of PROG worth $2,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PRG. Summit Securities Group LLC acquired a new stake in PROG in the fourth quarter valued at $38,000. Sterling Capital Management LLC raised its position in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after acquiring an additional 957 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of PROG by 141.1% in 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 in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of PROG by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock worth $57,000 after purchasing an additional 977 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of PROG in the fourth quarter worth $68,000. 97.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, with a total value of $46,216.50. Following the completion of the transaction, the director now directly owns 18,291 shares of the company's stock, valued at $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas C. Curling acquired 10,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the purchase, the director now directly owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Loop Capital decreased their price target on shares of PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group lowered shares of PROG from a "buy" rating to a "hold" rating and decreased their target price for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Finally, KeyCorp reduced their price target on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

PROG Trading Up 0.0 %

Shares of NYSE PRG traded up $0.01 during trading on Friday, hitting $27.89. 441,974 shares of the company traded hands, compared to its average volume of 463,122. The firm has a market capitalization of $1.13 billion, a P/E ratio of 6.14 and a beta of 1.81. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $26.49 and a 200-day moving average price of $37.03. PROG Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.08. The firm had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, equities analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. PROG's dividend payout ratio (DPR) is 10.66%.

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.