UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,881 shares of the company's stock after buying an additional 18,760 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.30% of PROG worth $5,235,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in PROG by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company's stock worth $208,646,000 after buying an additional 76,810 shares during the last quarter. FMR LLC lifted its position in shares of 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 acquiring an additional 134,123 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of PROG by 36.8% in the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock valued at $32,951,000 after acquiring an additional 209,805 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of PROG by 1.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company's stock valued at $23,773,000 after acquiring an additional 9,162 shares in the last quarter. Finally, Northern Trust Corp increased its stake in PROG by 7.0% in the 4th quarter. Northern Trust Corp now owns 517,984 shares of the company's stock valued at $21,890,000 after buying an additional 33,991 shares during the period. Institutional investors own 97.92% of the company's stock.

Analyst Upgrades and Downgrades

PRG has been the topic of several analyst reports. Loop Capital dropped their price target 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. 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 report 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 company from $58.00 to $29.00 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $44.83.

PROG Trading Up 0.1%

PRG stock traded up $0.03 during midday trading on Friday, hitting $29.09. The stock had a trading volume of 322,922 shares, compared to its average volume of 475,922. The firm has a market cap of $1.17 billion, a P/E ratio of 6.41 and a beta of 1.79. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average price of $27.27 and a two-hundred day moving average price of $34.80. PROG Holdings, Inc. has a 1-year low of $23.50 and a 1-year high of $50.28.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share 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 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 firm earned $0.91 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, May 20th. PROG's payout ratio is 10.66%.

Insider Buying and Selling

In other PROG news, CEO Steven A. Michaels bought 14,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $29.03 per share, with a total value of $406,420.00. Following the completion of the purchase, the chief executive officer now owns 559,641 shares of the company's stock, valued at approximately $16,246,378.23. This trade represents a 2.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Garner acquired 3,500 shares of PROG stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average cost of $28.93 per share, with a total value of $101,255.00. Following the transaction, 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 disclosure for this purchase can be found here. 3.21% of the stock is owned by company insiders.

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.