Wedge Capital Management L L P NC Purchases 658 Shares of PROG Holdings, Inc. (NYSE:PRG)

Wedge Capital Management L L P NC raised its holdings in PROG Holdings, Inc. (NYSE:PRG) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,075 shares of the company’s stock after buying an additional 658 shares during the period. Wedge Capital Management L L P NC owned 0.18% of PROG worth $3,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PRG. Whittier Trust Co. acquired a new stake in PROG in the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. bought a new stake in shares of PROG in the third quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake in PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of PROG in the 2nd quarter valued at $47,000. Finally, Quarry LP grew its holdings in shares of PROG by 162.9% during the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock valued at $74,000 after purchasing an additional 940 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Thursday, October 24th. TD Cowen upgraded PROG to a “strong-buy” rating in a research report on Friday, November 29th. Jefferies Financial Group raised their price target on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Stephens restated an “overweight” rating and set a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $53.83.

Insider Activity

In other news, CEO Steven A. Michaels sold 27,324 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.19, for a total value of $1,289,419.56. Following the completion of the transaction, the chief executive officer now directly owns 409,209 shares in the company, valued at approximately $19,310,572.71. This represents a 6.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP George M. Sewell sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the sale, the vice president now directly owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,207 shares of company stock worth $5,759,152. 2.74% of the stock is owned by company insiders.

PROG Price Performance

PRG opened at $43.07 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The firm has a market cap of $1.79 billion, a P/E ratio of 11.93 and a beta of 2.17. PROG Holdings, Inc. has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The firm has a 50-day moving average of $44.92 and a 200 day moving average of $44.16.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The company had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. On average, research analysts expect that PROG Holdings, Inc. will post 3.36 EPS for the current year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. PROG’s dividend payout ratio (DPR) is 13.30%.

PROG Company 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.