PROG Holdings, Inc. (NYSE:PRG) Stake Raised by Northern Trust Corp

Northern Trust Corp boosted its holdings in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 517,984 shares of the company's stock after acquiring an additional 33,991 shares during the period. Northern Trust Corp owned 1.25% of PROG worth $21,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PRG. Aquatic Capital Management LLC purchased a new position in PROG in the 4th quarter valued at about $323,000. Oberweis Asset Management Inc. lifted its holdings in PROG by 13.2% in the 4th quarter. Oberweis Asset Management Inc. now owns 143,600 shares of the company's stock valued at $6,069,000 after purchasing an additional 16,800 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in PROG by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 25,190 shares of the company's stock valued at $1,065,000 after purchasing an additional 1,451 shares in the last quarter. Marshall Wace LLP lifted its holdings in PROG by 2,008.0% in the 4th quarter. Marshall Wace LLP now owns 178,550 shares of the company's stock valued at $7,546,000 after purchasing an additional 170,080 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in PROG by 18.9% in the 4th quarter. Ceredex Value Advisors LLC now owns 251,800 shares of the company's stock valued at $10,641,000 after purchasing an additional 40,050 shares in the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PROG

In other news, Director Douglas C. Curling acquired 10,000 shares of the stock in a transaction on Friday, February 21st. The stock was bought at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the transaction, the director now directly owns 45,913 shares of the company's stock, valued at $1,371,880.44. The trade was a 27.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $28.01 per share, with a total value of $46,216.50. Following the transaction, the director now directly owns 18,291 shares of the company's stock, valued at $512,330.91. This represents a 9.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 29,150 shares of company stock valued at $852,692 over the last 90 days. 3.21% of the stock is owned by corporate insiders.

PROG Trading Up 0.2%

NYSE PRG traded up $0.05 during mid-day trading 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. PROG Holdings, Inc. has a 52-week low of $23.50 and a 52-week high of $50.28. The stock's fifty day simple moving average is $26.67 and its two-hundred day simple moving average is $36.54. 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 firm has a market capitalization of $1.21 billion, a P/E ratio of 6.63 and a beta of 1.81.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.82 by $0.08. PROG had a net margin of 8.01% and a return on equity of 24.25%. The firm had revenue of $684.09 million for the quarter, compared to analyst estimates of $678.23 million. During the same quarter last year, the firm posted $0.91 earnings per share. PROG's revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Tuesday, May 20th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, May 20th. PROG's dividend payout ratio (DPR) is 10.66%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRG shares. Loop Capital cut their price objective 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. Jefferies Financial Group lowered shares of PROG from a "buy" rating to a "hold" rating and cut their price objective for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, KeyCorp cut their price objective 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. Two investment 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $44.83.

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.