Nuveen Asset Management LLC Buys 18,843 Shares of PROG Holdings, Inc. (NYSE:PRG)

Nuveen Asset Management LLC lifted its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,918 shares of the company's stock after buying an additional 18,843 shares during the period. Nuveen Asset Management LLC owned approximately 0.85% of PROG worth $14,999,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PROG by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company's stock worth $980,000 after buying an additional 446 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of PROG in the fourth quarter worth about $1,845,000. Bridgeway Capital Management LLC increased its holdings in shares of PROG by 5.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 137,347 shares of the company's stock worth $5,804,000 after buying an additional 6,646 shares during the period. Caxton Associates LP purchased a new position in shares of PROG in the fourth quarter worth about $394,000. Finally, Azora Capital LP purchased a new position in shares of PROG in the fourth quarter worth about $3,345,000. Hedge funds and other institutional investors own 97.92% of the company's stock.

PROG Trading Down 0.5%

NYSE:PRG traded down $0.15 during mid-day trading on Wednesday, reaching $28.89. 394,566 shares of the company's stock traded hands, compared to its average volume of 475,877. PROG Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28. The company has a 50 day moving average price of $26.99 and a 200-day moving average price of $35.76. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 6.36 and a beta of 1.81.

PROG (NYSE:PRG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.08. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. During the same quarter in the prior year, the business earned $0.91 EPS. The business's revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.80%. PROG's dividend payout ratio (DPR) is 10.66%.

Insiders Place Their Bets

In related news, CEO Steven A. Michaels purchased 14,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $29.03 per share, with a total value of $406,420.00. Following the transaction, the chief executive officer now directly owns 559,641 shares in the company, valued at $16,246,378.23. This trade represents a 2.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian Garner purchased 3,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the completion of the transaction, the chief financial officer now owns 132,597 shares in the company, valued at approximately $3,836,031.21. This represents a 2.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.21% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PRG. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Loop Capital reduced their price target on PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, KeyCorp reduced their price target on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, PROG has an average rating of "Moderate Buy" and a consensus target price of $44.83.

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.