Sterling Capital Management LLC Has $46,000 Stake in PROG Holdings, Inc. (NYSE:PRG)

Sterling Capital Management LLC lifted its stake in PROG Holdings, Inc. (NYSE:PRG) by 765.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082 shares of the company’s stock after purchasing an additional 957 shares during the quarter. Sterling Capital Management LLC’s holdings in PROG were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Summit Securities Group LLC purchased a new stake in PROG in the 4th quarter worth approximately $38,000. Smartleaf Asset Management LLC raised its holdings in shares of PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after acquiring an additional 707 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in PROG by 248.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock valued at $57,000 after purchasing an additional 977 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in PROG in the fourth quarter valued at about $68,000. Finally, KBC Group NV increased its position in PROG by 53.9% in the 4th quarter. KBC Group NV now owns 2,015 shares of the company’s stock worth $85,000 after purchasing an additional 706 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Stock Up 0.8 %

PROG stock opened at $24.94 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. PROG Holdings, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $50.28. The firm has a fifty day moving average price of $27.20 and a two-hundred day moving average price of $38.72. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 5.49 and a beta of 1.96.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were paid a dividend of $0.13 per share. This is a boost from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.09%. The ex-dividend date was Thursday, March 13th. PROG’s dividend payout ratio is presently 11.45%.

Insider Buying and Selling at PROG

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

Analysts Set New Price Targets

Several brokerages recently commented on PRG. KeyCorp lowered their price target on PROG from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday. Stephens reissued an “overweight” rating and issued a $60.00 target price on shares of PROG in a research report on Thursday, January 2nd. Loop Capital cut their price target on shares of PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group cut shares of PROG from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.83.

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.