WINTON GROUP Ltd Invests $933,000 in PROG Holdings, Inc. (NYSE:PRG)

WINTON GROUP Ltd bought a new stake in PROG Holdings, Inc. (NYSE:PRG) during the 4th quarter, HoldingsChannel reports. The firm bought 22,079 shares of the company’s stock, valued at approximately $933,000.

A number of other institutional investors have also bought and sold shares of PRG. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PROG during the 3rd quarter valued at about $505,000. The Manufacturers Life Insurance Company boosted its holdings in shares of PROG by 5.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,601 shares of the company’s stock worth $1,096,000 after buying an additional 1,104 shares in the last quarter. FMR LLC grew its position in shares of PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after buying an additional 30,030 shares during the period. Quantbot Technologies LP bought a new stake in shares of PROG in the 3rd quarter valued at $718,000. Finally, Glenmede Trust Co. NA bought a new stake in shares of PROG in the 3rd quarter valued at $273,000. Institutional investors own 97.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and reduced their target price for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.00.

PROG Stock Down 3.7 %

Shares of NYSE PRG opened at $26.39 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The company has a 50-day moving average price of $34.35 and a 200-day moving average price of $41.81. The stock has a market capitalization of $1.08 billion, a P/E ratio of 5.81 and a beta of 2.14. PROG Holdings, Inc. has a 1 year low of $25.93 and a 1 year high of $50.28.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, equities research analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, March 13th. This is a boost from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.97%. PROG’s dividend payout ratio (DPR) is 10.57%.

Insiders Place Their Bets

In other news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $28.01 per share, with a total value of $46,216.50. Following the transaction, the director now directly owns 18,291 shares in the company, valued at $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas C. Curling purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $29.88 per share, with a total value of $298,800.00. Following the completion of the transaction, the director now directly owns 45,913 shares of the company’s stock, valued at $1,371,880.44. The trade was a 27.85 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.74% of the company’s stock.

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.