PROG Holdings, Inc. (NYSE:PRG) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 115.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 196,260 shares of the company's stock after acquiring an additional 105,179 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.47% of PROG worth $8,294,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. LPL Financial LLC grew its holdings in shares of PROG by 2.4% during the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company's stock worth $833,000 after purchasing an additional 458 shares during the last quarter. HB Wealth Management LLC grew its stake in PROG by 4.1% during the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock worth $684,000 after buying an additional 631 shares during the last quarter. Wedge Capital Management L L P NC increased its position in 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 period. KBC Group NV increased its position in PROG by 53.9% during the fourth quarter. KBC Group NV now owns 2,015 shares of the company's stock worth $85,000 after buying an additional 706 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after buying an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

PROG Stock Performance

Shares of NYSE PRG traded up $0.67 during mid-day trading on Friday, hitting $26.22. 318,342 shares of the company were exchanged, compared to its average volume of 448,983. The stock has a 50 day simple moving average of $28.58 and a 200-day simple moving average of $39.22. PROG Holdings, Inc. has a 1-year low of $23.50 and a 1-year 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 has a market cap of $1.07 billion, a price-to-earnings ratio of 5.77 and a beta of 1.96.

PROG (NYSE:PRG - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The business 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 business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, sell-side analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from PROG's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 13th. PROG's dividend payout ratio is 11.45%.

Analyst Ratings Changes

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

Insider Activity

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

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.