Two Sigma Investments LP Grows Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Two Sigma Investments LP raised its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 63.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,846 shares of the company's stock after purchasing an additional 37,872 shares during the period. Two Sigma Investments LP owned 0.24% of PROG worth $4,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State of Wyoming increased its stake in shares of PROG by 10.9% during the fourth quarter. State of Wyoming now owns 5,694 shares of the company's stock valued at $241,000 after purchasing an additional 560 shares in the last quarter. ProShare Advisors LLC increased its position in shares of PROG by 41.7% during the fourth quarter. ProShare Advisors LLC now owns 12,307 shares of the company's stock valued at $520,000 after acquiring an additional 3,623 shares in the last quarter. Quantedge Capital Pte Ltd bought a new stake in shares of PROG during the fourth quarter valued at approximately $4,982,000. Man Group plc increased its position in shares of PROG by 5.0% during the fourth quarter. Man Group plc now owns 213,122 shares of the company's stock valued at $9,007,000 after acquiring an additional 10,221 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of PROG by 5.6% during the fourth quarter. Nuveen Asset Management LLC now owns 354,918 shares of the company's stock valued at $14,999,000 after acquiring an additional 18,843 shares in the last quarter. Institutional investors own 97.92% of the company's stock.

PROG Stock Performance

NYSE:PRG traded down $0.40 during trading hours on Monday, reaching $28.43. The company had a trading volume of 431,878 shares, compared to its average volume of 475,373. 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 Holdings, Inc. has a 52 week low of $23.50 and a 52 week high of $50.28. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 6.26 and a beta of 1.81. The firm's 50 day moving average price is $27.10 and its 200-day moving average price is $35.13.

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

PROG Announces Dividend

The firm also recently declared 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. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, May 20th. PROG's dividend payout ratio is presently 10.66%.

Insider Transactions at PROG

In other news, CFO Brian Garner bought 3,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were bought 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 in the company, valued at $3,836,031.21. This represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Steven A. Michaels bought 14,000 shares of the 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 purchase, the chief executive officer now owns 559,641 shares in the company, valued at $16,246,378.23. This represents a 2.57% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRG. Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and reduced their price target for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. KeyCorp reduced their price target 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. Finally, Loop Capital reduced their price target 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. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.83.

About PROG

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.