Millennium Management LLC Sells 58,251 Shares of PROG Holdings, Inc. (NYSE:PRG)

Millennium Management LLC lowered its position in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,775 shares of the company's stock after selling 58,251 shares during the quarter. Millennium Management LLC owned about 1.00% of PROG worth $17,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PROG by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company's stock valued at $980,000 after acquiring an additional 446 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of PROG in the fourth quarter valued at $1,845,000. Bridgeway Capital Management LLC raised its stake in shares of PROG by 5.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 137,347 shares of the company's stock valued at $5,804,000 after acquiring an additional 6,646 shares during the period. Caxton Associates LP purchased a new stake in shares of PROG in the fourth quarter valued at $394,000. Finally, Azora Capital LP purchased a new stake in shares of PROG in the fourth quarter valued at $3,345,000. Hedge funds and other institutional investors own 97.92% of the company's stock.

Insiders Place Their Bets

In other PROG news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost 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. The trade was a 9.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven A. Michaels purchased 14,000 shares of the stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 559,641 shares in the company, valued at approximately $16,246,378.23. This represents a 2.57% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,150 shares of company stock worth $553,892 in the last three months. Corporate insiders own 3.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRG. KeyCorp reduced their target price on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Loop Capital reduced their target price on shares of PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and reduced their price target for the stock from $58.00 to $29.00 in a research note 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.83.

PROG Trading Up 2.5%

PRG stock traded up $0.72 during trading on Tuesday, hitting $29.05. The company had a trading volume of 564,201 shares, compared to its average volume of 476,202. The firm has a market capitalization of $1.17 billion, a P/E ratio of 6.40 and a beta of 1.81. PROG Holdings, Inc. has a 52-week low of $23.50 and a 52-week high of $50.28. The company has a 50 day simple moving average of $26.99 and a 200-day simple moving average of $35.76. 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 posted 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 company had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. During the same quarter last year, the firm posted $0.91 EPS. The firm's revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 20th. PROG's payout ratio 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.