New Age Alpha Advisors LLC Makes New $68,000 Investment in PROG Holdings, Inc. (NYSE:PRG)

New Age Alpha Advisors LLC purchased a new stake in shares of PROG Holdings, Inc. (NYSE:PRG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,602 shares of the company’s stock, valued at approximately $68,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRG. Vanguard Group Inc. boosted its position in PROG by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company’s stock worth $208,646,000 after buying an additional 76,810 shares during the period. FMR LLC grew its stake in shares of PROG by 1.3% in the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after purchasing an additional 30,030 shares during the last quarter. State Street Corp increased its holdings in PROG by 6.9% in the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock valued at $86,137,000 after purchasing an additional 114,498 shares during the period. Allianz Asset Management GmbH raised its position in PROG by 36.8% during the 4th 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 during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in PROG by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after buying an additional 6,517 shares during the period. 97.92% of the stock is currently owned by institutional investors.

PROG Trading Down 8.1 %

NYSE PRG opened at $25.80 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of 5.68 and a beta of 2.14. The business has a 50 day simple moving average of $33.07 and a 200 day simple moving average of $41.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. PROG Holdings, Inc. has a one year low of $25.24 and a one year high of $50.28.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $623.30 million for the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.72 EPS. Research analysts expect that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were paid a $0.13 dividend. This is an increase from PROG’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, March 13th. PROG’s payout ratio is 10.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and issued a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. Jefferies Financial Group lowered shares of PROG from a “buy” rating to a “hold” rating and lowered their price target for the stock 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PROG presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Activity

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

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.