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

Wedge Capital Management L L P NC lessened its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,417 shares of the company’s stock after selling 23,696 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of PROG worth $3,560,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRG. GAMMA Investing LLC grew its stake in shares of PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares during the period. Point72 DIFC Ltd purchased a new stake in PROG during the second quarter worth about $47,000. DekaBank Deutsche Girozentrale acquired a new position in PROG during the first quarter worth about $59,000. Blue Trust Inc. increased its holdings in PROG by 2,015.1% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $68,000 after buying an additional 1,874 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of PROG during the 2nd quarter valued at approximately $73,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PRG shares. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $55.00 in a report on Monday, August 19th. TD Cowen upped their target price on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Jefferies Financial Group lifted their price target on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, KeyCorp increased their price objective on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.40.

PROG Stock Performance

PROG stock opened at $48.80 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The stock has a fifty day moving average of $46.20 and a two-hundred day moving average of $39.20. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 19.92 and a beta of 2.11.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The firm had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same quarter in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts anticipate that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. PROG’s dividend payout ratio (DPR) is currently 19.59%.

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.