Schonfeld Strategic Advisors LLC Purchases Shares of 14,310 PROG Holdings, Inc. (NYSE:PRG)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 14,310 shares of the company's stock, valued at approximately $605,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in PROG by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company's stock valued at $208,646,000 after acquiring an additional 76,810 shares during the last quarter. FMR LLC raised its position in PROG by 5.5% in the 4th 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 period. Allianz Asset Management GmbH raised its holdings in shares of PROG by 36.8% in the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock valued at $32,951,000 after purchasing an additional 209,805 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of PROG by 1.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company's stock valued at $23,773,000 after acquiring an additional 9,162 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in 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 acquiring an additional 33,991 shares during the period. 97.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Douglas C. Curling acquired 10,000 shares of PROG stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $512,330.91. This trade represents a 9.92% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 29,150 shares of company stock valued at $852,692 in the last three months. Company insiders own 3.21% of the company's stock.

PROG Stock Performance

Shares of PRG stock traded up $1.09 during mid-day trading on Thursday, reaching $29.76. The stock had a trading volume of 162,100 shares, compared to its average volume of 465,600. The business's fifty day moving average is $26.55 and its 200-day moving average is $36.82. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. PROG Holdings, Inc. has a 1-year low of $23.50 and a 1-year high of $50.28. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 6.55 and a beta of 1.81.

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

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 1.75%. PROG's dividend payout ratio (DPR) is 10.66%.

Analyst Ratings Changes

A number of research firms have issued reports on PRG. KeyCorp reduced their price target on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and reduced their price target for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Finally, Loop Capital decreased their price target on PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

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.