Shell Asset Management Co. Cuts Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Shell Asset Management Co. decreased its holdings in shares of PROG Holdings, Inc. (NYSE:PRGGet Rating) by 12.9% during the first quarter, HoldingsChannel reports. The firm owned 11,596 shares of the company’s stock after selling 1,715 shares during the period. Shell Asset Management Co.’s holdings in PROG were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PRG. Life Planning Partners Inc purchased a new position in PROG during the 4th quarter valued at about $31,000. Quadrant Capital Group LLC increased its position in PROG by 298.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock valued at $57,000 after purchasing an additional 940 shares during the period. Icapital Wealth LLC purchased a new position in PROG during the 1st quarter valued at about $73,000. Okabena Investment Services Inc. purchased a new position in PROG during the 4th quarter valued at about $114,000. Finally, Keybank National Association OH purchased a new position in shares of PROG in the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

PROG Stock Up 4.0 %

NYSE:PRG opened at $21.00 on Friday. The company has a market cap of $1.13 billion, a PE ratio of 9.09 and a beta of 2.01. PROG Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $50.79. The company has a current ratio of 3.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $20.18 and its two-hundred day moving average is $27.20.

Insiders Place Their Bets

In related news, CFO Brian Garner bought 2,500 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $19.39 per share, with a total value of $48,475.00. Following the transaction, the chief financial officer now owns 38,523 shares in the company, valued at $746,960.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PROG news, insider Curtis Linn Doman acquired 50,000 shares of the firm’s stock in a transaction on 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 purchase, the insider now owns 72,000 shares in the company, valued at approximately $1,386,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Garner acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $19.39 per share, with a total value of $48,475.00. Following the completion of the purchase, the chief financial officer now owns 38,523 shares in the company, valued at approximately $746,960.97. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 53,700 shares of company stock valued at $1,034,243. Insiders own 1.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Stephens set a $21.00 price objective on shares of PROG in a research report on Monday, June 20th. TheStreet downgraded shares of PROG from a “c-” rating to a “d” rating in a research report on Thursday, July 28th. Raymond James downgraded shares of PROG from an “outperform” rating to a “market perform” rating in a research report on Friday, June 17th. Finally, KeyCorp cut their price objective on shares of PROG from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th.

About PROG

(Get Rating)

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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Institutional Ownership by Quarter for PROG (NYSE:PRG)

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