Robeco Institutional Asset Management B.V. Cuts Holdings in PROG Holdings, Inc. (NYSE:PRG)

Robeco Institutional Asset Management B.V. decreased its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,036 shares of the company’s stock after selling 3,069 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.07% of PROG worth $1,269,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in PROG during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. purchased a new stake in PROG during the 3rd quarter worth about $33,000. GAMMA Investing LLC increased its holdings in PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares during the period. Quarry LP increased its holdings in PROG by 162.9% during the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after purchasing an additional 940 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in PROG during the 3rd quarter worth about $83,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Insider Buying and Selling

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

PROG Trading Down 0.7 %

NYSE:PRG opened at $42.45 on Tuesday. The stock’s 50 day moving average price is $43.83 and its 200 day moving average price is $44.95. The company has a market capitalization of $1.76 billion, a PE ratio of 11.76 and a beta of 2.18. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. PROG Holdings, Inc. has a 52-week low of $27.84 and a 52-week high of $50.28.

PROG Announces Dividend

The company also recently declared 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 yield of 1.13%. PROG’s dividend payout ratio is presently 13.30%.

Wall Street Analyst Weigh In

PRG has been the topic of a number of recent analyst reports. 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. TD Cowen upgraded PROG to a “strong-buy” rating in a report on Friday, November 29th. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 price objective on shares of PROG in a 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PROG presently 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.