Veracity Capital LLC Purchases Shares of 5,052 PROG Holdings, Inc. (NYSE:PRG)

Veracity Capital LLC acquired a new position in PROG Holdings, Inc. (NYSE:PRG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,052 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. acquired a new position in PROG during the third quarter worth about $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in PROG during the second quarter valued at approximately $47,000. Finally, Quarry LP boosted its stake in shares of PROG by 162.9% during the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after acquiring an additional 940 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

Insider Buying and Selling at PROG

In related news, CFO Brian Garner sold 15,484 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.27, for a total transaction of $747,412.68. Following the completion of the sale, the chief financial officer now directly owns 92,236 shares of the company’s stock, valued at approximately $4,452,231.72. This represents a 14.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP George M. Sewell sold 3,500 shares of PROG stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total transaction of $171,080.00. Following the completion of the transaction, the vice president now owns 12,639 shares in the company, valued at $617,794.32. This trade represents a 21.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,207 shares of company stock worth $5,759,152 over the last ninety days. 2.74% of the stock is currently owned by insiders.

PROG Stock Performance

PRG stock opened at $42.31 on Friday. The stock has a market cap of $1.76 billion, a P/E ratio of 11.72 and a beta of 2.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The firm has a 50 day simple moving average of $44.39 and a 200 day simple moving average of $44.41. PROG Holdings, Inc. has a 52 week low of $27.84 and a 52 week high of $50.28.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts anticipate that PROG Holdings, Inc. will post 3.36 earnings per share for the current fiscal year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. PROG’s dividend payout ratio is 13.30%.

Analyst Upgrades and Downgrades

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

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.