Inspire Advisors LLC Increases Holdings in PROG Holdings, Inc. (NYSE:PRG)

Inspire Advisors LLC increased its position in PROG Holdings, Inc. (NYSE:PRG) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,894 shares of the company’s stock after purchasing an additional 1,010 shares during the quarter. Inspire Advisors LLC’s holdings in PROG were worth $587,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in shares of PROG during the 4th quarter worth $101,000. Amundi lifted its stake in PROG by 126.2% in the fourth quarter. Amundi now owns 23,397 shares of the company’s stock worth $966,000 after acquiring an additional 13,052 shares during the period. Raymond James Financial Inc. bought a new position in PROG during the 4th quarter worth about $620,000. Proficio Capital Partners LLC purchased a new position in PROG during the 4th quarter valued at about $527,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of 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 purchasing an additional 707 shares in the last quarter. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PROG

In other news, Director Douglas C. Curling bought 10,000 shares of PROG stock in a transaction that occurred 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 purchase, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the stock in a transaction on Wednesday, February 26th. The shares were purchased at an average cost of $28.01 per share, with a total value of $46,216.50. Following the transaction, the director now owns 18,291 shares in the company, valued at $512,330.91. This trade represents a 9.92 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.74% of the company’s stock.

PROG Stock Down 0.4 %

PROG stock opened at $26.86 on Wednesday. PROG Holdings, Inc. has a 1-year low of $26.52 and a 1-year high of $50.28. The business has a fifty day moving average price of $38.25 and a 200-day moving average price of $43.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 5.92 and a beta of 2.14.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. Equities research analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th will be issued a $0.13 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from PROG’s previous quarterly dividend of $0.12. PROG’s dividend payout ratio (DPR) is currently 10.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRG shares. TD Cowen raised shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and cut their target price for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PROG presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

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.