PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in PROG Holdings, Inc. (NYSE:PRG) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,366 shares of the company’s stock after selling 731 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PROG were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PRG. Whittier Trust Co. purchased a new position in shares of PROG during the third quarter worth about $26,000. Financial Management Professionals Inc. purchased a new position in shares of PROG in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after purchasing an additional 337 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of PROG in the second quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of PROG during the first quarter worth approximately $59,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PROG Trading Down 1.9 %

Shares of PROG stock opened at $48.21 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of 13.35 and a beta of 2.11. The business’s fifty day moving average is $47.18 and its two-hundred day moving average is $42.02. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. 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 (NYSE:PRG) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. During the same period last year, the company posted $0.90 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. PROG’s payout ratio is 13.30%.

Insider Activity at PROG

In related news, CFO Brian Garner sold 5,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the transaction, the chief financial officer now directly owns 107,720 shares in the company, valued at $5,309,518.80. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven A. Michaels sold 27,324 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 409,209 shares in the company, 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. In the last ninety days, insiders have sold 119,207 shares of company stock valued at $5,759,152. Corporate insiders own 2.74% of the company’s stock.

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.