Man Group plc Boosts Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Man Group plc lifted its position in PROG Holdings, Inc. (NYSE:PRG) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,122 shares of the company’s stock after acquiring an additional 10,221 shares during the quarter. Man Group plc owned approximately 0.51% of PROG worth $9,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its holdings in PROG by 22.7% during the third quarter. Barclays PLC now owns 347,155 shares of the company’s stock worth $16,834,000 after purchasing an additional 64,197 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of PROG by 45.6% during the 4th quarter. Ritholtz Wealth Management now owns 19,930 shares of the company’s stock worth $842,000 after buying an additional 6,246 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of PROG by 0.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 74,075 shares of the company’s stock worth $3,130,000 after buying an additional 658 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of PROG by 4.1% in the fourth quarter. HB Wealth Management LLC now owns 16,176 shares of the company’s stock valued at $684,000 after acquiring an additional 631 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of PROG during the fourth quarter valued at approximately $833,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Stock Up 0.2%

PRG stock opened at $30.10 on Monday. The stock has a fifty day moving average of $26.67 and a 200-day moving average of $36.54. 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 market capitalization of $1.21 billion, a price-to-earnings ratio of 6.63 and a beta of 1.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.82 by $0.08. The business had revenue of $684.09 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, equities research analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.13 per share. 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 1.73%. PROG’s payout ratio is 10.66%.

Insiders Place Their Bets

In related news, CEO Steven A. Michaels purchased 14,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the transaction, the chief executive officer now directly owns 559,641 shares in the company, valued at approximately $16,246,378.23. This represents a 2.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian Garner purchased 3,500 shares of the stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the completion of the acquisition, the chief financial officer now owns 132,597 shares of the company’s stock, valued at approximately $3,836,031.21. This represents a 2.71% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,150 shares of company stock worth $852,692 over the last 90 days. Corporate insiders own 3.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PRG. KeyCorp cut their price objective on PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group cut PROG from a “buy” rating to a “hold” rating and lowered their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Finally, Loop Capital reduced their price target on shares of PROG from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.83.

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.