29,216 Shares in PROG Holdings, Inc. (NYSE:PRG) Acquired by Life Planning Partners Inc

Life Planning Partners Inc acquired a new stake in PROG Holdings, Inc. (NYSE:PRG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 29,216 shares of the company’s stock, valued at approximately $1,235,000. Life Planning Partners Inc owned about 0.07% of PROG as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PRG. Vanguard Group Inc. increased its stake in shares of PROG by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company’s stock valued at $208,646,000 after buying an additional 76,810 shares in the last quarter. FMR LLC increased its position in PROG by 1.3% in the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after acquiring an additional 30,030 shares in the last quarter. State Street Corp raised its stake in shares of PROG by 6.9% in the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after acquiring an additional 114,498 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of PROG by 36.8% during the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock worth $32,951,000 after purchasing an additional 209,805 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of PROG by 1.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company’s stock valued at $23,773,000 after purchasing an additional 9,162 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Down 3.7 %

NYSE:PRG opened at $26.39 on Friday. The stock’s fifty day simple moving average is $34.35 and its 200-day simple moving average is $41.81. The firm has a market capitalization of $1.08 billion, a P/E ratio of 5.81 and a beta of 2.14. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. PROG Holdings, Inc. has a 12-month low of $25.93 and a 12-month high of $50.28.

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

PROG Increases Dividend

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

Insider Activity at PROG

In other PROG news, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the transaction, the director now owns 18,291 shares of the company’s stock, valued at $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas C. Curling bought 10,000 shares of the 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 purchase, the director now owns 45,913 shares in the company, valued at $1,371,880.44. This represents a 27.85 % increase in their position. The disclosure for this purchase can be found here. 2.74% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on PRG shares. Stephens reaffirmed an “overweight” rating and set a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and cut their price target 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.00.

PROG Company 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.