PROG Holdings, Inc. (NYSE:PRG) Shares Acquired by Comerica Bank

Comerica Bank raised its position in PROG Holdings, Inc. (NYSE:PRG) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,029 shares of the company’s stock after purchasing an additional 473 shares during the period. Comerica Bank’s holdings in PROG were worth $1,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of PROG by 22.7% in the 3rd quarter. Barclays PLC now owns 347,155 shares of the company’s stock valued at $16,834,000 after purchasing an additional 64,197 shares in the last quarter. Franklin Resources Inc. grew its position in shares of PROG by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 45,411 shares of the company’s stock worth $2,180,000 after acquiring an additional 13,186 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of PROG by 45.6% in the 4th quarter. Ritholtz Wealth Management now owns 19,930 shares of the company’s stock valued at $842,000 after acquiring an additional 6,246 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of 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 valued at $3,130,000 after acquiring an additional 658 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake 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 purchasing an additional 631 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Stock Performance

Shares of PRG stock opened at $27.89 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 debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 6.14 and a beta of 1.81. The business has a 50 day simple moving average of $26.49 and a 200 day simple moving average of $37.07.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $684.09 million for 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%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities research analysts anticipate that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. PROG’s dividend payout ratio (DPR) is 10.66%.

Analysts Set New Price Targets

A number of analysts have weighed in on PRG shares. Loop Capital dropped their target price on shares of PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. KeyCorp cut their target price on shares of PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and lowered 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 issued a strong buy rating to the company. According to MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Insider Activity

In other PROG news, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought 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 of the company’s stock, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas C. Curling bought 10,000 shares of the business’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 completion of the purchase, the director now owns 45,913 shares of the company’s stock, valued at approximately $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. 3.21% of the stock is owned by insiders.

PROG 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.