PROG Holdings, Inc. (NYSE:PRG) Position Boosted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,839 shares of the company’s stock after acquiring an additional 13,433 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.28% of PROG worth $3,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Invesco Ltd. grew its stake in shares of PROG by 15.7% in the 3rd quarter. Invesco Ltd. now owns 441,929 shares of the company’s stock valued at $14,676,000 after buying an additional 59,859 shares in the last quarter. Rip Road Capital Partners LP lifted its holdings in PROG by 14.1% in the 3rd quarter. Rip Road Capital Partners LP now owns 343,008 shares of the company’s stock worth $11,391,000 after purchasing an additional 42,300 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in PROG by 284.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 266,456 shares of the company’s stock worth $8,849,000 after purchasing an additional 197,152 shares during the last quarter. Cambria Investment Management L.P. lifted its holdings in PROG by 1,451.8% in the 3rd quarter. Cambria Investment Management L.P. now owns 210,054 shares of the company’s stock worth $6,976,000 after purchasing an additional 196,518 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in PROG by 719.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock worth $5,529,000 after purchasing an additional 157,024 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stephens upgraded PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. TD Cowen began coverage on PROG in a report on Friday, March 8th. They set an “outperform” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

PROG Stock Performance

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

PROG (NYSE:PRG) last released 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 business had revenue of $641.87 million for the quarter, compared to analysts’ expectations of $632.24 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. Sell-side analysts forecast that PROG Holdings, Inc. will post 2.83 EPS for the current year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio (DPR) 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.