Mackenzie Financial Corp Has $1.26 Million Stake in PROG Holdings, Inc. (NYSE:PRG)

Mackenzie Financial Corp lifted its stake in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 170.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,706 shares of the company's stock after purchasing an additional 18,715 shares during the quarter. Mackenzie Financial Corp owned 0.07% of PROG worth $1,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRG. Allianz Asset Management GmbH raised its position in PROG by 36.8% during the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock valued at $32,951,000 after purchasing an additional 209,805 shares in the last quarter. Marshall Wace LLP grew its holdings in PROG by 2,008.0% in the 4th quarter. Marshall Wace LLP now owns 178,550 shares of the company's stock worth $7,546,000 after acquiring an additional 170,080 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of PROG by 170.7% in the fourth quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company's stock valued at $10,521,000 after acquiring an additional 157,006 shares during the period. Norges Bank bought a new position in shares of PROG during the fourth quarter valued at about $6,093,000. Finally, FMR LLC grew its stake in shares of PROG by 5.5% in the fourth quarter. FMR LLC now owns 2,564,441 shares of the company's stock worth $108,373,000 after purchasing an additional 134,123 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors.

Insider Transactions at PROG

In related news, CFO Brian Garner bought 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the acquisition, the chief financial officer now owns 132,597 shares in the company, valued at $3,836,031.21. This represents a 2.71% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven A. Michaels acquired 14,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the acquisition, the chief executive officer now directly owns 559,641 shares in the company, valued at $16,246,378.23. This represents a 2.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company's stock.

Wall Street Analyst Weigh In

PRG has been the topic of a number of analyst reports. Loop Capital dropped their price target on PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group downgraded 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 note on Wednesday, February 26th. Finally, KeyCorp decreased their target price on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.83.

PROG Stock Performance

Shares of NYSE PRG traded down $0.26 during mid-day trading on Wednesday, hitting $28.99. The stock had a trading volume of 208,664 shares, compared to its average volume of 475,404. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. The company has a 50 day moving average of $27.19 and a two-hundred day moving average of $35.05. PROG Holdings, Inc. has a twelve month low of $23.50 and a twelve month high of $50.28. The firm has a market cap of $1.17 billion, a PE ratio of 6.39 and a beta of 1.79.

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

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. PROG's dividend payout ratio is currently 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.