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

WINTON GROUP Ltd purchased a new position in shares of PROG Holdings, Inc. (NYSE:PRG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 22,079 shares of the company’s stock, valued at approximately $933,000. WINTON GROUP Ltd owned 0.05% of PROG as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC increased its holdings in shares of PROG by 2.4% during the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock worth $833,000 after purchasing an additional 458 shares during the period. HB Wealth Management LLC grew its position in PROG by 4.1% during the fourth quarter. HB Wealth Management LLC now owns 16,176 shares of the company’s stock worth $684,000 after buying an additional 631 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in PROG by 0.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company’s stock worth $3,130,000 after acquiring an additional 658 shares during the period. KBC Group NV raised its holdings in PROG by 53.9% in the 4th quarter. KBC Group NV now owns 2,015 shares of the company’s stock valued at $85,000 after acquiring an additional 706 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock valued at $51,000 after acquiring an additional 707 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

Insider Transactions at PROG

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

Analysts Set New Price Targets

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

PROG Price Performance

Shares of PRG stock opened at $26.39 on Friday. The business has a fifty day simple moving average of $34.35 and a 200 day simple moving average of $41.81. The company has a market cap 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 twelve month low of $25.93 and a twelve month high of $50.28.

PROG (NYSE:PRG) last announced its quarterly 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. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. During the same period in the prior year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal 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 paid 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 positive change from PROG’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. PROG’s dividend payout ratio (DPR) is presently 10.57%.

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.