Life Planning Partners Inc Makes New Investment in PROG Holdings, Inc. (NYSE:PRG)

Life Planning Partners Inc purchased a new position in shares of PROG Holdings, Inc. (NYSE:PRG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,216 shares of the company’s stock, valued at approximately $1,235,000.

A number of other institutional investors have also made changes to their positions in the business. Allianz Asset Management GmbH grew its position in PROG by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock valued at $32,951,000 after purchasing an additional 209,805 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of PROG by 170.7% in the 4th quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company’s stock valued at $10,521,000 after acquiring an additional 157,006 shares in the last quarter. Norges Bank acquired a new stake in shares of PROG in the fourth quarter valued at about $6,093,000. Walleye Capital LLC raised its holdings in PROG by 476.7% during the third quarter. Walleye Capital LLC now owns 150,495 shares of the company’s stock worth $7,298,000 after acquiring an additional 124,397 shares in the last quarter. Finally, State Street Corp raised its holdings in PROG by 6.9% during the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after acquiring an additional 114,498 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stephens reiterated an “overweight” rating and set a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd. Jefferies Financial Group lowered shares of PROG from a “buy” rating to a “hold” rating and dropped their price target for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Insider Transactions at PROG

In other PROG news, Director Douglas C. Curling acquired 10,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was purchased at an average price of $29.88 per share, with a total value of $298,800.00. Following the acquisition, the director now directly owns 45,913 shares of the company’s stock, valued at approximately $1,371,880.44. This trade represents a 27.85 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 2.74% of the stock is owned by corporate insiders.

PROG Stock Down 3.7 %

PRG stock opened at $26.39 on Friday. The business’s 50 day simple moving average is $34.35 and its 200 day simple moving average is $41.81. PROG Holdings, Inc. has a 1-year low of $25.93 and a 1-year high of $50.28. The firm has a market capitalization of $1.08 billion, a PE ratio of 5.81 and a beta of 2.14. 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 issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $623.30 million for the quarter, compared to analyst estimates of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, research analysts anticipate that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a $0.13 dividend. This is an increase from PROG’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. PROG’s dividend payout ratio is presently 10.57%.

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.