Thrivent Financial for Lutherans Has $1.36 Million Position in PROG Holdings, Inc. (NYSE:PRG)

Thrivent Financial for Lutherans cut its position in PROG Holdings, Inc. (NYSE:PRG) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,111 shares of the company’s stock after selling 1,124 shares during the period. Thrivent Financial for Lutherans’ holdings in PROG were worth $1,357,000 at the end of the most recent reporting period.

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

PROG Price Performance

NYSE PRG opened at $26.39 on Monday. The firm’s 50 day moving average is $34.35 and its 200-day moving average is $41.79. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.08 billion, a PE ratio of 5.81 and a beta of 2.14. PROG Holdings, Inc. has a 12-month low of $25.93 and a 12-month high of $50.28.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. PROG had a net margin of 8.01% and a return on equity of 24.25%. The firm had revenue of $623.30 million for the quarter, compared to analyst estimates of $612.67 million. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.97%. This is an increase from PROG’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 13th. PROG’s dividend payout ratio (DPR) is currently 10.57%.

Insiders Place Their Bets

In other news, Director Douglas C. Curling bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the purchase, the director now 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 document filed with the SEC, which is accessible through this link. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the stock in a transaction on 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 transaction, the director now owns 18,291 shares of the company’s stock, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRG. Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and decreased their price objective for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. Stephens reiterated an “overweight” rating and issued a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Two research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.00.

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.