Voloridge Investment Management LLC Increases Holdings in PROG Holdings, Inc. (NYSE:PRG)

Voloridge Investment Management LLC boosted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,141 shares of the company's stock after purchasing an additional 26,964 shares during the quarter. Voloridge Investment Management LLC owned about 0.62% of PROG worth $10,867,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its position in shares of 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 buying an additional 209,805 shares during the last quarter. Marshall Wace LLP grew its stake in PROG by 2,008.0% during the fourth quarter. Marshall Wace LLP now owns 178,550 shares of the company's stock valued at $7,546,000 after acquiring an additional 170,080 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in PROG by 170.7% in the 4th 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 last quarter. Norges Bank purchased a new stake in PROG in the 4th quarter worth $6,093,000. Finally, FMR LLC boosted its holdings in shares of PROG by 5.5% during the 4th quarter. FMR LLC now owns 2,564,441 shares of the company's stock valued at $108,373,000 after purchasing an additional 134,123 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PROG

In other PROG news, CFO Brian Garner acquired 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was bought 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 directly owns 132,597 shares in the company, valued at $3,836,031.21. The trade was a 2.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven A. Michaels bought 14,000 shares of PROG stock in a transaction on Monday, May 12th. The stock was acquired 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 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 disclosure for this purchase can be found here. Company insiders own 3.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRG shares. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and decreased their target price for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. KeyCorp reduced their price objective on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Loop Capital decreased their price objective on PROG from $45.00 to $40.00 and set a "buy" 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 issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.83.

PROG Trading Down 0.5%

PRG traded down $0.15 on Wednesday, hitting $28.89. The company had a trading volume of 394,566 shares, compared to its average volume of 476,498. The business's fifty day simple moving average is $26.99 and its 200 day simple moving average is $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 Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28. The company has a market cap of $1.17 billion, a PE ratio of 6.36 and a beta of 1.81.

PROG (NYSE:PRG - Get Free Report) last posted 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. The business had revenue of $684.09 million during the quarter, compared to analyst estimates of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company earned $0.91 EPS. Equities research analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, May 20th. PROG's dividend payout ratio (DPR) is 10.66%.

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.