Fox Run Management L.L.C. Acquires 1,061 Shares of PROG Holdings, Inc. (NYSE:PRG)

Fox Run Management L.L.C. increased its holdings in PROG Holdings, Inc. (NYSE:PRG) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,558 shares of the company’s stock after buying an additional 1,061 shares during the quarter. Fox Run Management L.L.C.’s holdings in PROG were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in shares of PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after acquiring an additional 707 shares during the period. Quarry LP boosted its holdings in PROG by 162.9% in the third quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after purchasing an additional 940 shares during the last quarter. KBC Group NV grew its position in PROG by 53.9% in the 4th quarter. KBC Group NV now owns 2,015 shares of the company’s stock worth $85,000 after purchasing an additional 706 shares during the period. Daiwa Securities Group Inc. purchased a new stake in PROG during the 4th quarter valued at $101,000. Finally, Blue Trust Inc. lifted its holdings in shares of PROG by 38.6% during the 4th quarter. Blue Trust Inc. now owns 3,691 shares of the company’s stock valued at $156,000 after buying an additional 1,027 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Stock Down 0.3 %

PRG stock opened at $27.40 on Friday. The business’s 50-day moving average price is $34.68 and its 200-day moving average price is $41.96. The stock has a market cap of $1.12 billion, a P/E ratio of 6.04 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 posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business had revenue of $623.30 million during the quarter, compared to analyst estimates of $612.67 million. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. This is an increase from PROG’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. PROG’s payout ratio is presently 10.57%.

Analysts Set New Price Targets

Several brokerages recently commented on PRG. Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and cut their price objective for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. TD Cowen upgraded PROG to a “strong-buy” rating in a research note on Friday, November 29th. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd. Two 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 stock. According to data from MarketBeat, PROG presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Insider Transactions at PROG

In related news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $28.01 per share, with a total value of $46,216.50. Following the completion of the acquisition, the director now owns 18,291 shares of the company’s stock, valued at $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 bought 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 directly owns 45,913 shares of the company’s stock, valued at $1,371,880.44. This represents a 27.85 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.74% of the company’s stock.

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.