PROG Holdings, Inc. (NYSE:PRG) Holdings Boosted by Ancora Advisors LLC

Ancora Advisors LLC raised its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 51.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,150 shares of the company's stock after acquiring an additional 17,130 shares during the quarter. Ancora Advisors LLC owned approximately 0.12% of PROG worth $2,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Allianz Asset Management GmbH lifted its stake in shares of PROG by 36.8% during the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock worth $32,951,000 after purchasing an additional 209,805 shares during the period. Marshall Wace LLP increased its stake in PROG by 2,008.0% in the fourth 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 during the last quarter. Great Lakes Advisors LLC lifted its position in PROG by 170.7% during the fourth quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company's stock worth $10,521,000 after buying an additional 157,006 shares during the period. Norges Bank acquired a new stake in PROG in the 4th quarter worth about $6,093,000. Finally, FMR LLC grew its holdings in PROG by 5.5% in the 4th quarter. FMR LLC now owns 2,564,441 shares of the company's stock valued at $108,373,000 after buying an additional 134,123 shares during the period. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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. KeyCorp decreased 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, Loop Capital dropped their price objective on PROG from $45.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Two equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.83.

PROG Stock Up 0.0 %

Shares of PRG stock traded up $0.01 during trading hours on Friday, reaching $27.89. The company had a trading volume of 441,974 shares, compared to its average volume of 463,122. The company has a market capitalization of $1.13 billion, a P/E ratio of 6.14 and a beta of 1.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. PROG Holdings, Inc. has a twelve month low of $23.50 and a twelve month high of $50.28. The stock's fifty day simple moving average is $26.49 and its 200 day simple moving average is $37.07.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.08. The company had revenue of $684.09 million for the quarter, compared to analyst estimates of $678.23 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. As a group, sell-side analysts expect that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, May 20th. PROG's dividend payout ratio is currently 10.66%.

Insider Buying and Selling at PROG

In other news, Director Douglas C. Curling acquired 10,000 shares of the business's stock in a transaction on Friday, February 21st. The shares were purchased at an average price 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 represents a 27.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the firm's 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 transaction, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92 % increase in their position. The disclosure for this purchase can be found here. 3.21% of the stock is owned by insiders.

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.