Ritholtz Wealth Management Has $842,000 Holdings in PROG Holdings, Inc. (NYSE:PRG)

Ritholtz Wealth Management boosted its holdings in PROG Holdings, Inc. (NYSE:PRG) by 45.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,930 shares of the company’s stock after purchasing an additional 6,246 shares during the quarter. Ritholtz Wealth Management’s holdings in PROG were worth $842,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. acquired a new stake in shares of PROG in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new position in PROG during the 3rd quarter worth $33,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 337 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of PROG during the 2nd quarter valued at $47,000. Finally, Quarry LP grew its holdings in shares of 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 in the last quarter. Institutional investors own 97.92% of the company’s stock.

Insider Transactions at PROG

In other PROG news, CEO Steven A. Michaels sold 27,324 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 409,209 shares of the company’s stock, valued at approximately $19,310,572.71. This trade represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the sale, the chief financial officer now directly owns 107,720 shares of the company’s stock, valued at approximately $5,309,518.80. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,207 shares of company stock worth $5,759,152. Company insiders own 2.74% of the company’s stock.

PROG Stock Up 0.4 %

NYSE:PRG opened at $43.07 on Monday. PROG Holdings, Inc. has a one year low of $27.84 and a one year high of $50.28. 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 company has a market cap of $1.79 billion, a PE ratio of 11.93 and a beta of 2.17. The firm’s 50 day simple moving average is $44.92 and its 200 day simple moving average is $44.16.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business 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%. PROG’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. On average, research analysts anticipate that PROG Holdings, Inc. will post 3.36 earnings per share for the current year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.11%. PROG’s payout ratio is 13.30%.

Analyst Ratings Changes

PRG has been the subject of several analyst reports. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Thursday, October 24th. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of PROG in a research report on Thursday, January 2nd. TD Cowen raised PROG to a “strong-buy” rating in a report on Friday, November 29th. Finally, Jefferies Financial Group lifted their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.