XTX Topco Ltd Decreases Stock Position in PROG Holdings, Inc. (NYSE:PRG)

XTX Topco Ltd reduced its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 65.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,120 shares of the company's stock after selling 11,775 shares during the period. XTX Topco Ltd's holdings in PROG were worth $259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its position 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 buying an additional 209,805 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings 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 acquiring an additional 157,006 shares during the period. Norges Bank purchased a new position in PROG in the fourth quarter worth $6,093,000. FMR LLC boosted its position in PROG by 5.5% in the fourth quarter. FMR LLC now owns 2,564,441 shares of the company's stock worth $108,373,000 after purchasing an additional 134,123 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of PROG by 35.7% during the 4th quarter. Invesco Ltd. now owns 423,505 shares of the company's stock valued at $17,897,000 after purchasing an additional 111,406 shares during the last quarter. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

PROG Stock Performance

PRG traded up $0.53 on Thursday, hitting $26.89. The company's stock had a trading volume of 87,938 shares, compared to its average volume of 454,830. The company's 50 day simple moving average is $26.64 and its 200-day simple moving average is $38.12. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. PROG Holdings, Inc. has a 12 month low of $23.50 and a 12 month high of $50.28. The firm has a market cap of $1.10 billion, a P/E ratio of 5.93 and a beta of 1.96.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. The company had revenue of $684.09 million during the quarter, compared to analysts' expectations of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a $0.13 dividend. This is a positive change from PROG's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 13th. PROG's dividend payout ratio (DPR) is 10.66%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRG shares. Stephens restated an "overweight" rating and set a $60.00 price target on shares of PROG in a research report on Thursday, January 2nd. KeyCorp reduced their target price 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. Jefferies Financial Group cut shares of PROG from a "buy" rating to a "hold" rating and lowered their price target for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, Loop Capital reduced 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 assigned a strong buy rating to the stock. According to MarketBeat.com, PROG has a consensus rating of "Moderate Buy" and an average price target of $44.83.

Insider Activity at PROG

In related news, Director Douglas C. Curling acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares in the company, valued at approximately $1,371,880.44. This trade represents a 27.85 % 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 Caroline Sio-Chin Sheu bought 1,650 shares of the company's 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 transaction, the director now owns 18,291 shares of the company's stock, valued at $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.21% of the stock is owned by corporate insiders.

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.