PROG Holdings, Inc. (NYSE:PRG) Shares Acquired by Man Group plc

Man Group plc increased its stake in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,122 shares of the company's stock after purchasing an additional 10,221 shares during the period. Man Group plc owned 0.51% of PROG worth $9,007,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in PROG in the 4th quarter worth approximately $38,000. Sterling Capital Management LLC grew its stake in PROG by 765.6% in the 4th 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 period. Smartleaf Asset Management LLC grew its stake in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after acquiring an additional 707 shares during the period. CIBC Private Wealth Group LLC grew its stake in PROG by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock worth $57,000 after acquiring an additional 977 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in PROG in the 4th quarter worth approximately $68,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Trading Down 1.3%

Shares of NYSE PRG traded down $0.38 during trading on Friday, hitting $28.29. 385,452 shares of the company traded hands, compared to its average volume of 475,849. PROG Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The company has a 50-day moving average price of $26.93 and a 200-day moving average price of $36.02. The firm has a market capitalization of $1.14 billion, a P/E ratio of 6.23 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.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $684.09 million during the quarter, compared to analysts' expectations of $678.23 million. During the same period in the previous year, the company earned $0.91 EPS. The business's quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Announces Dividend

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 paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 1.84%. PROG's dividend payout ratio is presently 10.66%.

Analysts Set New Price Targets

Several analysts have commented on PRG shares. Loop Capital lowered their target price on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group cut shares of PROG from a "buy" rating to a "hold" rating and lowered their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Finally, KeyCorp lowered their target price on shares of PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned 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 target price of $44.83.

Insider Activity

In other PROG news, CFO Brian Garner bought 3,500 shares of PROG 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 acquisition, the chief financial officer now owns 132,597 shares of the company's stock, valued at $3,836,031.21. The trade was a 2.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of PROG stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the acquisition, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 19,150 shares of company stock valued at $553,892 in the last ninety days. Company insiders own 3.21% of the company's stock.

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.