Ameriprise Financial Inc. Has $28.33 Million Stake in PROG Holdings, Inc. (NYSE:PRG)

Ameriprise Financial Inc. decreased its stake in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 670,325 shares of the company's stock after selling 22,679 shares during the period. Ameriprise Financial Inc. owned approximately 1.61% of PROG worth $28,328,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. LPL Financial LLC increased its position in shares of PROG by 2.4% during the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company's stock worth $833,000 after acquiring an additional 458 shares in the last quarter. Comerica Bank boosted its holdings in PROG by 1.2% during the fourth quarter. Comerica Bank now owns 39,029 shares of the company's stock worth $1,649,000 after purchasing an additional 473 shares during the last quarter. HB Wealth Management LLC boosted its holdings in PROG by 4.1% during the fourth quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock worth $684,000 after purchasing an additional 631 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in PROG by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company's stock worth $3,130,000 after purchasing an additional 658 shares during the last quarter. Finally, KBC Group NV boosted its holdings in PROG by 53.9% during the fourth quarter. KBC Group NV now owns 2,015 shares of the company's stock worth $85,000 after purchasing an additional 706 shares during the last quarter. Institutional investors own 97.92% of the company's stock.

Wall Street Analyst Weigh In

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

PROG Stock Performance

Shares of PRG traded up $0.12 during trading hours on Monday, hitting $30.17. The company had a trading volume of 528,147 shares, compared to its average volume of 470,193. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 6.65 and a beta of 1.81. The business has a fifty day moving average of $26.74 and a 200-day moving average of $36.45. PROG Holdings, Inc. has a 12 month low of $23.50 and a 12 month high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99.

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

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, May 20th. PROG's payout ratio is presently 10.66%.

Insider Activity

In other PROG news, CEO Steven A. Michaels purchased 14,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $29.03 per share, with a total value of $406,420.00. Following the completion of the transaction, the chief executive officer now owns 559,641 shares in the company, valued at $16,246,378.23. The trade was a 2.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the transaction, the director now owns 18,291 shares of the company's stock, valued at $512,330.91. This trade represents a 9.92% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 29,150 shares of company stock valued at $852,692 over the last ninety days. 3.21% of the stock is currently owned by company 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.