PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its stake in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 679,779 shares of the company's stock after selling 18,185 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.64% of PROG worth $28,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in PROG by 1.6% during 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 in the last quarter. FMR LLC boosted its holdings in PROG by 5.5% during the fourth quarter. FMR LLC now owns 2,564,441 shares of the company's stock worth $108,373,000 after buying an additional 134,123 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in PROG by 36.8% during the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock worth $32,951,000 after buying an additional 209,805 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of PROG by 1.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company's stock valued at $23,773,000 after purchasing an additional 9,162 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of PROG by 7.0% in the fourth quarter. Northern Trust Corp now owns 517,984 shares of the company's stock valued at $21,890,000 after purchasing an additional 33,991 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

Insider Activity at PROG

In other news, CEO Steven A. Michaels acquired 14,000 shares of PROG stock in a transaction that occurred on Monday, May 12th. The shares were 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 represents a 2.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 purchased at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the purchase, the chief financial officer now directly owns 132,597 shares of the company's stock, valued at approximately $3,836,031.21. This trade represents a 2.71% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 29,150 shares of company stock valued at $852,692. Company insiders own 3.21% of the company's stock.

PROG Price Performance

Shares of NYSE PRG traded up $0.05 on Friday, hitting $30.10. The company's stock had a trading volume of 558,118 shares, compared to its average volume of 469,960. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.63 and a beta of 1.81. The stock has a 50 day moving average of $26.67 and a 200-day moving average of $36.59. PROG Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28.

PROG (NYSE:PRG - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $678.23 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, research analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors 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 1.73%. The ex-dividend date is Tuesday, May 20th. PROG's payout ratio is 10.66%.

Analysts Set New Price Targets

PRG has been the topic of several recent research reports. Loop Capital reduced their price target on shares of PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. KeyCorp reduced their price target on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock 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 given a strong buy rating to the stock. According to data from MarketBeat.com, PROG currently has an average rating of "Moderate Buy" and an average price target of $44.83.

PROG 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.