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

Comerica Bank increased its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,029 shares of the company’s stock after acquiring an additional 473 shares during the period. Comerica Bank owned approximately 0.09% of PROG worth $1,649,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of PROG in the 4th quarter valued at about $38,000. Sterling Capital Management LLC increased its holdings in PROG by 765.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock valued at $46,000 after buying an additional 957 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock valued at $51,000 after acquiring an additional 707 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of 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 acquiring 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 worth approximately $68,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Insider Transactions at PROG

In other PROG news, Director Douglas C. Curling acquired 10,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the purchase, the director now directly owns 45,913 shares in the company, valued at $1,371,880.44. This represents a 27.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the purchase, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

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

PROG Trading Up 0.0 %

Shares of PRG stock opened at $27.89 on Friday. PROG Holdings, Inc. has a twelve month low of $23.50 and a twelve month high of $50.28. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 6.14 and a beta of 1.81. The firm has a 50-day moving average price of $26.49 and a 200 day moving average price of $37.07. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping 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 firm had revenue of $684.09 million during the quarter, compared to analysts’ expectations of $678.23 million. During the same period in the previous year, the company earned $0.91 EPS. PROG’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, May 20th. PROG’s dividend payout ratio is currently 10.66%.

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.