Algert Global LLC Has $4.90 Million Position in PROG Holdings, Inc. (NYSE:PRG)

Algert Global LLC lifted its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 60.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,076 shares of the company’s stock after buying an additional 38,025 shares during the quarter. Algert Global LLC’s holdings in PROG were worth $4,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Whittier Trust Co. acquired a new stake in PROG during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. acquired a new stake in PROG during the third quarter worth approximately $33,000. GAMMA Investing LLC increased its holdings in PROG by 72.0% in the third 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 position in PROG in the second quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PROG during the 1st quarter worth approximately $59,000. Institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PRG. Stephens initiated coverage on shares of PROG in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price objective for the company. Jefferies Financial Group upped their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Thursday, October 24th. KeyCorp upped their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Loop Capital raised PROG from a “hold” rating to a “buy” rating and raised their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

Insider Transactions at PROG

In other PROG news, CFO Brian Garner sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the sale, the chief financial officer now directly owns 107,720 shares of the company’s stock, valued at $5,309,518.80. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Curtis Linn Doman sold 3,584 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.02, for a total transaction of $172,103.68. Following the transaction, the director now owns 250,940 shares of the company’s stock, valued at $12,050,138.80. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,207 shares of company stock worth $5,759,152 in the last quarter. Insiders own 2.74% of the company’s stock.

PROG Stock Performance

NYSE PRG opened at $47.43 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 13.14 and a beta of 2.11. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a fifty day moving average price of $47.09 and a 200-day moving average price of $41.78.

PROG (NYSE:PRG) last announced its quarterly earnings data 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. The firm had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, equities research analysts predict that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s dividend payout ratio is currently 13.30%.

PROG Company 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.