American Century Companies Inc. lifted its stake in shares of PROG Holdings, Inc. (NYSE:PRG – Get Rating) by 37.9% in the first quarter, Holdings Channel reports. The institutional investor owned 305,321 shares of the company’s stock after buying an additional 83,837 shares during the quarter. American Century Companies Inc.’s holdings in PROG were worth $8,784,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Life Planning Partners Inc bought a new position in PROG during the fourth quarter worth $31,000. ETF Managers Group LLC grew its holdings in PROG by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 15,783 shares of the company’s stock worth $708,000 after acquiring an additional 750 shares during the period. M&T Bank Corp increased its stake in PROG by 8.2% in the 1st quarter. M&T Bank Corp now owns 10,612 shares of the company’s stock worth $305,000 after purchasing an additional 806 shares in the last quarter. Acadian Asset Management LLC grew its stake in PROG by 7.0% during the 4th quarter. Acadian Asset Management LLC now owns 13,304 shares of the company’s stock valued at $600,000 after acquiring an additional 871 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in PROG by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 51,740 shares of the company’s stock valued at $1,489,000 after acquiring an additional 970 shares in the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Stephens set a $21.00 target price on PROG in a report on Monday, June 20th. Raymond James cut PROG from an “outperform” rating to a “market perform” rating in a research report on Friday, June 17th. TheStreet cut PROG from a “c-” rating to a “d” rating in a research report on Thursday, July 28th. Finally, KeyCorp lowered their price objective on PROG from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th.
PROG Stock Performance
Insiders Place Their Bets
In other news, insider Curtis Linn Doman purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired 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 of the company’s stock, valued at approximately $1,386,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brian Garner acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost of $19.39 per share, for a total transaction of $48,475.00. Following the completion of the acquisition, the chief financial officer now owns 38,523 shares in the company, valued at $746,960.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis Linn Doman purchased 50,000 shares of PROG stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average cost of $19.25 per share, with a total value of $962,500.00. Following the completion of the transaction, the insider now directly owns 72,000 shares of the company’s stock, valued at approximately $1,386,000. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 53,700 shares of company stock valued at $1,034,243. 1.74% of the stock is currently owned by corporate insiders.
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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