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

Vulcan Value Partners LLC trimmed its holdings in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 20.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 369,829 shares of the company's stock after selling 93,237 shares during the quarter. Vulcan Value Partners LLC owned 0.89% of PROG worth $15,629,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PRG. Summit Securities Group LLC purchased a new stake in shares of PROG during the 4th quarter worth approximately $38,000. Sterling Capital Management LLC increased 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 buying an additional 957 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of PROG by 141.1% in the fourth 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 lifted its position in shares of PROG by 248.6% during 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 during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in PROG in the 4th quarter worth about $68,000. 97.92% of the stock is currently owned by institutional investors.

Insider Transactions at PROG

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

Analyst Ratings Changes

PRG has been the topic of several recent research reports. Stephens reaffirmed an "overweight" rating and set a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. KeyCorp dropped their price target on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Loop Capital reduced their price objective on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and dropped their target price for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Two 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 company's stock. According to MarketBeat.com, PROG has an average rating of "Moderate Buy" and a consensus price target of $44.83.

PROG Price Performance

Shares of PROG stock traded up $0.06 during trading on Thursday, hitting $26.42. The stock had a trading volume of 196,183 shares, compared to its average volume of 546,444. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 5.82 and a beta of 1.96. PROG Holdings, Inc. has a 12 month low of $23.50 and a 12 month high of $50.28. The business's 50-day moving average is $26.64 and its 200 day moving average is $38.12. 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 (NYSE:PRG - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. As a group, sell-side analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Increases Dividend

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