nVerses Capital LLC Acquires 1,400 Shares of PROG Holdings, Inc. (NYSE:PRG)

nVerses Capital LLC lifted its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 66.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,500 shares of the company’s stock after purchasing an additional 1,400 shares during the period. nVerses Capital LLC’s holdings in PROG were worth $170,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. boosted its position in PROG by 83.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock valued at $8,979,000 after buying an additional 118,698 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in PROG by 45.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,994 shares of the company’s stock valued at $2,199,000 after buying an additional 19,924 shares during the period. Keeley Teton Advisors LLC boosted its position in PROG by 35.3% during the 1st quarter. Keeley Teton Advisors LLC now owns 49,574 shares of the company’s stock valued at $1,707,000 after buying an additional 12,928 shares during the period. Sei Investments Co. purchased a new stake in PROG during the 1st quarter valued at $815,000. Finally, Vanguard Group Inc. boosted its position in PROG by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock valued at $174,278,000 after buying an additional 105,101 shares during the period. Institutional investors own 97.92% of the company’s stock.

PROG Trading Down 2.5 %

Shares of NYSE PRG opened at $48.23 on Friday. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The stock has a market cap of $2.08 billion, a P/E ratio of 19.69 and a beta of 2.11. The firm has a 50-day moving average of $46.74 and a 200 day moving average of $39.48. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $592.16 million during the quarter, compared to analyst estimates of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. PROG’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. As a group, sell-side analysts expect that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s dividend payout ratio is presently 19.59%.

Wall Street Analysts Forecast Growth

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

About PROG

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.