PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 942,042 shares of the company's stock after selling 19,911 shares during the period. Geode Capital Management LLC owned about 2.27% of PROG worth $39,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in PROG during the fourth quarter worth $38,000. Smartleaf Asset Management LLC raised its position in shares of PROG by 141.1% in the fourth 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 boosted its stake in shares of PROG by 248.6% during 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 in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of PROG during the 4th quarter valued at about $68,000. Finally, KBC Group NV increased its stake in shares of PROG by 53.9% in the 4th quarter. KBC Group NV now owns 2,015 shares of the company's stock valued at $85,000 after purchasing an additional 706 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

PROG Price Performance

Shares of NYSE PRG traded up $0.67 during midday trading on Friday, hitting $26.22. The stock had a trading volume of 318,342 shares, compared to its average volume of 448,983. 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 1 year low of $23.50 and a 1 year high of $50.28. The company has a market capitalization of $1.07 billion, a PE ratio of 5.77 and a beta of 1.96. The stock has a 50 day simple moving average of $28.58 and a 200-day simple moving average of $39.22.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $623.30 million for the quarter, compared to the consensus estimate of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. On average, sell-side analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from PROG's previous quarterly dividend of $0.12. PROG's dividend payout ratio (DPR) is currently 11.45%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and lowered their price target for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Stephens reissued an "overweight" rating and issued a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.

Insider Buying and Selling

In other news, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the transaction, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Curling bought 10,000 shares of PROG stock in a transaction on Friday, February 21st. The shares were purchased at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the purchase, the director now directly owns 45,913 shares of the company's stock, valued at $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.21% of the stock is currently owned by company insiders.

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.