JPMorgan Chase & Co. lessened its stake in PROG Holdings, Inc. (NYSE:PRG – Get Rating) by 0.6% in the first quarter, HoldingsChannel reports. The firm owned 670,419 shares of the company's stock after selling 4,245 shares during the period. JPMorgan Chase & Co.'s holdings in PROG were worth $19,288,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Summit Global Investments boosted its stake in shares of PROG by 20.2% during the 1st quarter. Summit Global Investments now owns 26,781 shares of the company's stock worth $770,000 after acquiring an additional 4,500 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of PROG by 313.1% during the 4th quarter. Marshall Wace LLP now owns 350,096 shares of the company's stock valued at $15,793,000 after buying an additional 265,342 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in shares of PROG by 34.6% during the 4th quarter. Vulcan Value Partners LLC now owns 2,063,667 shares of the company's stock valued at $93,092,000 after buying an additional 530,587 shares in the last quarter. Okabena Investment Services Inc. purchased a new position in shares of PROG during the 4th quarter valued at $114,000. Finally, DGS Capital Management LLC lifted its stake in PROG by 148.0% in the 1st quarter. DGS Capital Management LLC now owns 13,598 shares of the company's stock worth $391,000 after purchasing an additional 8,115 shares in the last quarter. Institutional investors own 96.45% of the company's stock.
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Analyst Ratings Changes
PRG has been the topic of a number of research reports. Raymond James downgraded shares of PROG from an "outperform" rating to a "market perform" rating in a report on Friday, June 17th. TheStreet downgraded shares of PROG from a "c-" rating to a "d" rating in a report on Thursday, July 28th. KeyCorp lowered their price objective on shares of PROG from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Thursday, July 28th. Finally, Stephens set a $21.00 price target on shares of PROG in a research report on Monday, June 20th.
Insider Activity at PROG
In other PROG news, insider Curtis Linn Doman bought 50,000 shares of the business's stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $19.25 per share, with a total value of $962,500.00. Following the completion of the purchase, the insider now directly owns 72,000 shares in the company, valued at $1,386,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Curtis Linn Doman purchased 50,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average cost of $19.25 per share, for a total transaction of $962,500.00. Following the completion of the transaction, the insider now directly owns 72,000 shares in the company, valued at approximately $1,386,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian Garner purchased 2,500 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $19.39 per share, with a total value of $48,475.00. Following the completion of the transaction, the chief financial officer now owns 38,523 shares of the company's stock, valued at $746,960.97. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 53,700 shares of company stock valued at $1,034,243. 1.74% of the stock is currently owned by insiders.
PROG Price Performance
Shares of PROG stock opened at $18.83 on Tuesday. The business has a 50 day simple moving average of $18.68 and a two-hundred day simple moving average of $24.74. PROG Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $50.79. The stock has a market capitalization of $1.02 billion, a P/E ratio of 8.15 and a beta of 1.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.26 and a quick ratio of 1.26.
PROG Profile
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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.
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