Oberweis Asset Management Inc. Has $6.07 Million Stake in PROG Holdings, Inc. (NYSE:PRG)

Oberweis Asset Management Inc. lifted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,600 shares of the company’s stock after purchasing an additional 16,800 shares during the quarter. Oberweis Asset Management Inc. owned 0.35% of PROG worth $6,069,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PRG. Summit Securities Group LLC acquired a new stake in PROG during the 4th quarter worth approximately $38,000. Sterling Capital Management LLC raised its holdings in shares of PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after acquiring an additional 957 shares during the period. Smartleaf Asset Management LLC boosted its stake in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC increased its holdings in PROG by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after purchasing an additional 977 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of PROG in the 4th quarter valued at about $68,000. Institutional investors own 97.92% of the company’s stock.

Insider Buying and Selling at PROG

In other PROG news, Director Douglas C. Curling bought 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 acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were acquired at an average cost of $28.01 per share, with a total value of $46,216.50. Following the acquisition, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group cut PROG from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. KeyCorp cut their price objective on shares of PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Loop Capital decreased their target price on shares of PROG from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.83.

PROG Trading Up 0.8 %

Shares of PROG stock opened at $24.94 on Friday. PROG Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $27.20 and its 200-day moving average is $38.72. The stock has a market cap of $1.02 billion, a P/E ratio of 5.49 and a beta of 1.96.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $684.09 million during the quarter, compared to analysts’ expectations of $678.23 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. Equities research analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders 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 yield of 2.09%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from PROG’s previous quarterly dividend of $0.12. PROG’s payout ratio is 11.45%.

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.