79,150 Shares in PROG Holdings, Inc. (NYSE:PRG) Acquired by Azora Capital LP

Azora Capital LP acquired a new position in shares of PROG Holdings, Inc. (NYSE:PRG) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 79,150 shares of the company’s stock, valued at approximately $3,345,000. Azora Capital LP owned about 0.19% of PROG at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in shares of PROG during the fourth quarter worth about $38,000. Sterling Capital Management LLC boosted its stake in PROG by 765.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock valued at $46,000 after purchasing an additional 957 shares during the period. Smartleaf Asset Management LLC grew its position 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 last quarter. CIBC Private Wealth Group LLC increased its stake in shares of PROG by 248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock valued at $57,000 after purchasing an additional 977 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of PROG during the fourth quarter valued at approximately $68,000. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Trading Up 1.7 %

Shares of PRG stock opened at $27.08 on Friday. The stock has a 50-day simple moving average of $26.56 and a 200 day simple moving average of $37.75. The stock has a market capitalization of $1.11 billion, a P/E ratio of 5.96 and a beta of 1.96. PROG Holdings, Inc. has a fifty-two week low of $23.50 and a fifty-two week 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.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company had revenue of $684.09 million during the quarter, compared to analyst estimates of $678.23 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed 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 1.92%. The ex-dividend date was Thursday, March 13th. This is an increase from PROG’s previous quarterly dividend of $0.12. PROG’s dividend payout ratio is 10.66%.

Analysts Set New Price Targets

PRG has been the topic of several analyst reports. Loop Capital lowered their target price on PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and lowered their price target for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, KeyCorp reduced their price objective on shares of PROG from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Two 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

Insider Transactions at PROG

In related news, Director Douglas C. Curling purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the transaction, the director now directly owns 45,913 shares of the company’s stock, valued at $1,371,880.44. This trade represents a 27.85 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $28.01 per share, for a total transaction 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. Corporate insiders own 3.21% of the company’s stock.

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.