BNP Paribas Financial Markets Purchases Shares of 108,303 PROG Holdings, Inc. (NYSE:PRG)

BNP Paribas Financial Markets purchased a new position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 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 quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRG. Allianz Asset Management GmbH boosted its position in PROG by 36.8% during the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock worth $32,951,000 after purchasing an additional 209,805 shares during the period. Marshall Wace LLP boosted its position in PROG by 2,008.0% during the 4th quarter. Marshall Wace LLP now owns 178,550 shares of the company's stock worth $7,546,000 after purchasing an additional 170,080 shares during the period. Great Lakes Advisors LLC boosted its position in PROG by 170.7% during 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. Norges Bank purchased a new position in PROG in the 4th quarter valued at about $6,093,000. Finally, FMR LLC boosted its position in PROG by 5.5% in the 4th quarter. FMR LLC now owns 2,564,441 shares of the company's stock valued at $108,373,000 after buying an additional 134,123 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PRG. KeyCorp decreased their price objective on shares of PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Loop Capital decreased their price objective on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Jefferies Financial Group cut shares of PROG from a "buy" rating to a "hold" rating and decreased their price objective for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

Insider Buying and Selling

In other PROG news, 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 purchased at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the purchase, the chief executive officer now directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian Garner acquired 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average price of $28.93 per share, for a total transaction of $101,255.00. Following the purchase, the chief financial officer now owns 132,597 shares of the company's stock, valued at $3,836,031.21. This trade represents a 2.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 29,150 shares of company stock worth $852,692 over the last quarter. 3.21% of the stock is owned by company insiders.

PROG Stock Up 0.4%

Shares of PRG stock traded up $0.12 during trading hours on Monday, hitting $30.17. 528,147 shares of the company were exchanged, compared to its average volume of 470,193. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. PROG Holdings, Inc. has a one year low of $23.50 and a one year high of $50.28. The business's 50-day simple moving average is $26.74 and its two-hundred day simple moving average is $36.45. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 6.65 and a beta of 1.81.

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

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.52 annualized dividend and a yield of 1.72%. PROG's dividend payout ratio (DPR) is 10.66%.

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.