PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Burney Co.

Burney Co. lowered its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 59.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,343 shares of the company’s stock after selling 59,853 shares during the quarter. Burney Co. owned about 0.10% of PROG worth $1,705,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. FMR LLC raised its position in shares of PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after acquiring an additional 30,030 shares in the last quarter. State Street Corp raised its holdings in shares of PROG by 6.9% during the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after purchasing an additional 114,498 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of PROG by 0.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after buying an additional 6,803 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of PROG by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock valued at $23,746,000 after buying an additional 84,497 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of PROG by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock valued at $20,090,000 after buying an additional 6,517 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. Finally, TD Cowen upgraded shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $53.83.

Insider Buying and Selling

In other news, insider Michael Todd King sold 1,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the sale, the insider now owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. The trade was a 3.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven A. Michaels sold 27,324 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.19, for a total value of $1,289,419.56. Following the transaction, the chief executive officer now directly owns 409,209 shares of the company’s stock, valued at $19,310,572.71. This represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock valued at $5,759,152 over the last quarter. Corporate insiders own 2.74% of the company’s stock.

PROG Stock Up 1.7 %

PRG opened at $42.90 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. PROG Holdings, Inc. has a 12 month low of $27.84 and a 12 month high of $50.28. The stock’s 50 day moving average price is $45.10 and its 200 day moving average price is $44.03. The stock has a market cap of $1.78 billion, a P/E ratio of 11.88 and a beta of 2.17.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, research analysts predict that PROG Holdings, Inc. will post 3.36 earnings per share for the current year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.12%. PROG’s dividend payout ratio is presently 13.30%.

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.