Hsbc Holdings PLC Sells 15,872 Shares of PROG Holdings, Inc. (NYSE:PRG)

Hsbc Holdings PLC cut its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 27.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,685 shares of the company's stock after selling 15,872 shares during the period. Hsbc Holdings PLC owned approximately 0.10% of PROG worth $1,801,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. LPL Financial LLC increased its holdings in PROG by 2.4% in the 4th quarter. LPL Financial LLC now owns 19,719 shares of the company's stock valued at $833,000 after buying an additional 458 shares during the period. HB Wealth Management LLC grew its holdings in shares of PROG by 4.1% during the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock valued at $684,000 after purchasing an additional 631 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of PROG by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company's stock worth $3,130,000 after buying an additional 658 shares during the last quarter. KBC Group NV boosted its holdings in shares of PROG by 53.9% during the 4th quarter. KBC Group NV now owns 2,015 shares of the company's stock valued at $85,000 after acquiring an additional 706 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in PROG by 141.1% during the 4th 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 last quarter. 97.92% of the stock is currently owned by institutional investors.

PROG Trading Up 0.1 %

PROG stock traded up $0.02 during mid-day trading on Monday, hitting $27.10. 311,318 shares of the stock were exchanged, compared to its average volume of 457,676. PROG Holdings, Inc. has a 12 month low of $23.50 and a 12 month high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The firm's fifty day simple moving average is $26.56 and its two-hundred day simple moving average is $37.66. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.97 and a beta of 1.81.

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 analysts' consensus estimates of $0.82 by $0.08. The firm had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business's revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. Analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from PROG's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.92%. PROG's payout ratio is 10.66%.

Insiders Place Their Bets

In related news, Director Douglas C. Curling acquired 10,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were bought at an average price of $29.88 per share, with a total value of $298,800.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of PROG stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $28.01 per share, with a total value of $46,216.50. Following the completion of the purchase, the director now owns 18,291 shares in the company, valued at $512,330.91. This trade represents a 9.92 % 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.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group lowered PROG from a "buy" rating to a "hold" rating and cut their price target for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. KeyCorp decreased 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 dropped their price target on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PROG currently has an average rating of "Moderate Buy" and an average target price of $44.83.

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.