PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in PROG Holdings, Inc. (NYSE:PRG) by 20.1% during the third quarter, HoldingsChannel.com reports. The fund owned 39,794 shares of the company’s stock after selling 10,041 shares during the period. Victory Capital Management Inc.’s holdings in PROG were worth $1,930,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 last quarter. Diversified Trust Co boosted its position in PROG by 7.1% during the third quarter. Diversified Trust Co now owns 7,849 shares of the company’s stock worth $381,000 after acquiring an additional 520 shares during the last quarter. Inspire Advisors LLC grew its stake in PROG by 4.2% during the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company’s stock valued at $625,000 after acquiring an additional 525 shares in the last quarter. Whittier Trust Co. acquired a new stake in PROG in the 3rd quarter valued at about $26,000. Finally, Financial Management Professionals Inc. purchased a new position in PROG in the 3rd quarter worth approximately $33,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

PROG Stock Up 2.4 %

Shares of NYSE:PRG opened at $47.43 on Monday. The business has a 50-day moving average price of $47.09 and a 200 day moving average price of $41.78. PROG Holdings, Inc. has a 12-month low of $26.39 and a 12-month high of $50.28. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.14 and a beta of 2.11.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The firm had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Sell-side analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Dividend Announcement

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

Insider Buying and Selling

In other PROG news, VP George M. Sewell sold 3,500 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven A. Michaels sold 27,324 shares of PROG stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.19, for a total value of $1,289,419.56. Following the transaction, the chief executive officer now owns 409,209 shares of the company’s stock, valued at $19,310,572.71. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,207 shares of company stock worth $5,759,152 over the last 90 days. 2.74% of the stock is owned by insiders.

Analysts Set New Price Targets

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

PROG 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.