Nisa Investment Advisors LLC Sells 580 Shares of PROG Holdings, Inc. (NYSE:PRG)

Nisa Investment Advisors LLC cut its stake in PROG Holdings, Inc. (NYSE:PRG) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,821 shares of the company’s stock after selling 580 shares during the period. Nisa Investment Advisors LLC’s holdings in PROG were worth $705,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PRG. Norges Bank bought a new stake in PROG in the fourth quarter valued at approximately $16,483,000. Charles Schwab Investment Management Inc. boosted its holdings in PROG by 143.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,267,221 shares of the company’s stock valued at $30,147,000 after acquiring an additional 746,161 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in PROG by 395.4% in the first quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company’s stock valued at $23,765,000 after acquiring an additional 659,312 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in PROG by 37.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,129,384 shares of the company’s stock valued at $35,966,000 after acquiring an additional 576,086 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in PROG by 95.2% in the fourth quarter. JPMorgan Chase & Co. now owns 911,986 shares of the company’s stock valued at $15,403,000 after acquiring an additional 444,737 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors.

PROG Price Performance

PROG stock opened at $31.50 on Wednesday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.64 and a beta of 2.08. PROG Holdings, Inc. has a 52-week low of $24.28 and a 52-week high of $44.81. The stock’s 50 day moving average price is $32.28 and its two-hundred day moving average price is $30.60. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.49 and a current ratio of 3.66.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, February 21st. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. PROG had a return on equity of 28.83% and a net margin of 5.77%. The company had revenue of $577.40 million for the quarter, compared to analysts’ expectations of $568.35 million. During the same period last year, the business earned $0.84 EPS. PROG’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that PROG Holdings, Inc. will post 2.83 earnings per share for the current year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s dividend payout ratio is currently 16.22%.

Wall Street Analysts Forecast Growth

PRG has been the topic of a number of research analyst reports. Stephens upgraded PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. TD Cowen initiated coverage on PROG in a report on Friday, March 8th. They set an “outperform” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

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.