Nisa Investment Advisors LLC Sells 46,428 Shares of PROG Holdings, Inc. (NYSE:PRG)

Nisa Investment Advisors LLC lowered its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 66.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,974 shares of the company's stock after selling 46,428 shares during the quarter. Nisa Investment Advisors LLC owned about 0.05% of PROG worth $1,114,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRG. Assenagon Asset Management S.A. bought a new stake in shares of PROG in the 3rd quarter worth approximately $19,079,000. Diversify Wealth Management LLC acquired a new position in shares of PROG during the 2nd quarter valued at $8,794,000. SG Capital Management LLC bought a new stake in shares of PROG during the 1st quarter worth $5,932,000. Fourth Sail Capital LP bought a new stake in shares of PROG during the 2nd quarter worth $5,500,000. Finally, Millennium Management LLC boosted its stake in shares of PROG by 497.6% during the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company's stock worth $5,580,000 after acquiring an additional 133,972 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

PROG Price Performance

PRG traded up $0.68 on Monday, hitting $44.71. 292,660 shares of the stock were exchanged, compared to its average volume of 408,819. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.39 and a beta of 2.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. PROG Holdings, Inc. has a 12 month low of $26.39 and a 12 month high of $50.28. The business has a 50-day moving average of $46.67 and a two-hundred day moving average of $40.44.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Sell-side analysts forecast that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Tuesday, August 20th. PROG's dividend payout ratio is presently 13.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRG shares. Raymond James raised PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Thursday, October 24th. Loop Capital upgraded shares of PROG from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp upped their target price on shares of PROG from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased their price objective on shares of PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Finally, TD Cowen increased their price objective on shares of PROG from $40.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, PROG currently has a consensus rating of "Moderate Buy" and an average price target of $52.60.

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.