BNP Paribas Financial Markets Makes New $4.58 Million Investment in PROG Holdings, Inc. (NYSE:PRG)

BNP Paribas Financial Markets bought a new position in PROG Holdings, Inc. (NYSE:PRG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 108,303 shares of the company's stock, valued at approximately $4,577,000. BNP Paribas Financial Markets owned 0.26% of PROG at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in shares of PROG during the 4th quarter worth about $38,000. Sterling Capital Management LLC increased its holdings in shares of PROG by 765.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after purchasing an additional 957 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC increased its holdings 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 during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of PROG during the 4th quarter worth about $68,000. Institutional investors own 97.92% of the company's stock.

Insiders Place Their Bets

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

PROG Price Performance

NYSE PRG traded up $0.05 on Friday, reaching $30.10. The company's stock had a trading volume of 558,118 shares, compared to its average volume of 469,354. The firm has a market cap of $1.21 billion, a PE ratio of 6.63 and a beta of 1.81. The business has a 50-day moving average price of $26.67 and a 200 day moving average price of $36.64. PROG Holdings, Inc. has a 52 week low of $23.50 and a 52 week high of $50.28. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.08. The firm 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 for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Sell-side analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. PROG's payout ratio is currently 10.66%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PRG shares. Loop Capital dropped their price objective on shares of PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, KeyCorp dropped their price objective on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, PROG has an average rating of "Moderate Buy" and an average target price of $44.83.

PROG 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.