Vulcan Value Partners LLC Sells 93,237 Shares of PROG Holdings, Inc. (NYSE:PRG)

Vulcan Value Partners LLC trimmed its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,829 shares of the company's stock after selling 93,237 shares during the period. Vulcan Value Partners LLC owned about 0.89% of PROG worth $15,629,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Summit Securities Group LLC bought a new position in PROG during the fourth quarter valued at about $38,000. Sterling Capital Management LLC lifted its position in PROG by 765.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after purchasing an additional 957 shares during the period. Smartleaf Asset Management LLC increased its holdings in PROG by 141.1% in the 4th 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 period. CIBC Private Wealth Group LLC raised its stake in shares of PROG by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock valued at $57,000 after buying an additional 977 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of PROG during the 4th quarter worth about $68,000. Institutional investors and hedge funds own 97.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PRG shares. KeyCorp cut their price target on shares of PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Loop Capital dropped their price objective on PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stephens reaffirmed an "overweight" rating and issued a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. Finally, Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and cut their price target for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Two 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 presently has a consensus rating of "Moderate Buy" and an average target price of $44.83.

Insider Buying and Selling at PROG

In other PROG news, Director Douglas C. Curling bought 10,000 shares of the company's stock in a transaction on 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 transaction, the director now owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. The trade was a 27.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of PROG stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the transaction, the director now directly owns 18,291 shares in the company, 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. Corporate insiders own 3.21% of the company's stock.

PROG Price Performance

Shares of PRG stock remained flat at $26.36 during trading hours on Wednesday. The stock had a trading volume of 617,923 shares, compared to its average volume of 663,741. PROG Holdings, Inc. has a 12 month low of $25.58 and a 12 month high of $26.59. The firm has a market cap of $1.08 billion, a PE ratio of 5.81 and a beta of 1.96. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average price of $26.70 and a 200-day moving average price of $38.21.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $0.91 EPS. The company's revenue was up 6.6% on a year-over-year basis. Equities research analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from PROG's previous quarterly dividend of $0.12. PROG's payout ratio is 10.66%.

PROG 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.