Wedge Capital Management L L P NC Acquires 13,433 Shares of PROG Holdings, Inc. (NYSE:PRG)

Wedge Capital Management L L P NC grew its holdings in PROG Holdings, Inc. (NYSE:PRG) by 12.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 125,839 shares of the company’s stock after purchasing an additional 13,433 shares during the period. Wedge Capital Management L L P NC’s holdings in PROG were worth $3,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRG. Qube Research & Technologies Ltd grew its position in PROG by 284.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 266,456 shares of the company’s stock worth $8,849,000 after acquiring an additional 197,152 shares during the last quarter. Cambria Investment Management L.P. grew its position in PROG by 1,451.8% during the 3rd quarter. Cambria Investment Management L.P. now owns 210,054 shares of the company’s stock worth $6,976,000 after acquiring an additional 196,518 shares during the last quarter. Assenagon Asset Management S.A. grew its position in PROG by 719.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock worth $5,529,000 after acquiring an additional 157,024 shares during the last quarter. Nomura Holdings Inc. grew its position in PROG by 621.5% during the 3rd quarter. Nomura Holdings Inc. now owns 144,294 shares of the company’s stock worth $4,792,000 after acquiring an additional 124,294 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in PROG by 198.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 169,738 shares of the company’s stock worth $5,247,000 after acquiring an additional 112,907 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen assumed coverage on PROG in a research report on Friday, March 8th. They issued an “outperform” rating and a $37.00 price target on the stock. Stephens upgraded PROG from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, PROG has an average rating of “Moderate Buy” and an average price target of $39.60.

PROG Stock Up 8.9 %

Shares of NYSE:PRG opened at $35.68 on Thursday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.05 and a beta of 2.08. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. The business’s 50-day moving average is $32.25 and its 200-day moving average is $30.67. PROG Holdings, Inc. has a 1 year low of $24.72 and a 1 year high of $44.81.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $641.87 million for the quarter, compared to the consensus estimate of $632.24 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. Equities research analysts predict that PROG Holdings, Inc. will post 2.83 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio is 16.22%.

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.