Insider Selling: PROG Holdings, Inc. (NYSE:PRG) CFO Sells 15,484 Shares of Stock

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 15,484 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.27, for a total transaction of $747,412.68. Following the completion of the transaction, the chief financial officer now owns 92,236 shares of the company’s stock, valued at $4,452,231.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian Garner also recently made the following trade(s):

• On Thursday, November 7th, Brian Garner sold 5,000 shares of PROG stock. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00.

PROG Stock Down 0.2 %

NYSE PRG traded down $0.10 during trading on Tuesday, hitting $48.24. The company’s stock had a trading volume of 837,523 shares, compared to its average volume of 410,476. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The company has a market cap of $2.00 billion, a PE ratio of 13.36 and a beta of 2.11. The business’s 50 day simple moving average is $46.76 and its 200-day simple moving average is $40.94. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, equities analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. PROG’s dividend payout ratio is presently 13.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRG. Whittier Trust Co. acquired a new position in shares of PROG in the third quarter worth $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG in the third quarter valued at $33,000. GAMMA Investing LLC boosted its position in shares of PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares during the period. Point72 DIFC Ltd acquired a new position in shares of PROG in the second quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PROG during the first quarter valued at approximately $59,000. 97.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRG has been the topic of a number of research reports. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and boosted their target price for the company from $41.00 to $55.00 in a report on Monday, August 19th. TD Cowen boosted their target price on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. KeyCorp upped their price target on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Thursday, October 24th. Finally, Jefferies Financial Group upped their price target on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.