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

Nuveen Asset Management LLC raised its position in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 354,918 shares of the company's stock after acquiring an additional 18,843 shares during the period. Nuveen Asset Management LLC owned approximately 0.85% of PROG worth $14,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of PROG during the 4th quarter worth $38,000. Sterling Capital Management LLC boosted its holdings in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after buying an additional 957 shares in the last quarter. Smartleaf Asset Management LLC grew its position in PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after buying an additional 707 shares during the period. CIBC Private Wealth Group LLC increased its holdings in PROG by 248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock valued at $57,000 after buying an additional 977 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in PROG in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 97.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group cut shares of PROG from a "buy" rating to a "hold" rating and lowered their price objective for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. KeyCorp lowered their price target on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Loop Capital cut their price objective on PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PROG presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

PROG Stock Up 0.5%

NYSE PRG traded up $0.16 on Friday, reaching $29.26. The stock had a trading volume of 45,374 shares, compared to its average volume of 536,417. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 6.44 and a beta of 1.81. The business has a 50 day moving average price of $27.05 and a 200 day moving average price of $35.58. PROG Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99.

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

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, May 20th. PROG's payout ratio is currently 10.66%.

Insider Activity

In other news, CEO Steven A. Michaels purchased 14,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $29.03 per share, with a total value of $406,420.00. Following the acquisition, the chief executive officer now owns 559,641 shares in the company, valued at approximately $16,246,378.23. The trade was a 2.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian Garner acquired 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of $28.93 per share, with a total value of $101,255.00. Following the purchase, the chief financial officer now owns 132,597 shares in the company, valued at $3,836,031.21. The trade was a 2.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company's stock.

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.