PROG Holdings, Inc. (NYSE:PRG) VP Sells $171,080.00 in Stock

PROG Holdings, Inc. (NYSE:PRG) VP George M. Sewell sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the sale, the vice president now owns 12,639 shares of the company’s stock, valued at $617,794.32. This trade represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PROG Trading Down 0.1 %

PRG opened at $47.72 on Friday. 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’s 50 day simple moving average is $46.92 and its two-hundred day simple moving average is $41.29. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 13.22 and a beta of 2.11. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28.

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

PROG Announces Dividend

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date is Tuesday, November 19th. PROG’s payout ratio is currently 13.30%.

Analyst Ratings Changes

Several equities research analysts recently commented on PRG shares. KeyCorp boosted their price target on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Jefferies Financial Group boosted their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. TD Cowen lifted their price objective on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Stephens started coverage on PROG in a report on Wednesday. They set an “overweight” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PROG presently has a consensus rating of “Moderate Buy” and an average price target of $53.83.

Hedge Funds Weigh In On PROG

A number of institutional investors have recently bought and sold shares of the company. Whittier Trust Co. acquired a new stake in shares of PROG during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new stake in PROG during the third quarter worth $33,000. GAMMA Investing LLC raised its position in PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after purchasing an additional 337 shares during the period. Point72 DIFC Ltd purchased a new stake in PROG in the second quarter valued at $47,000. Finally, Quarry LP lifted its stake in shares of PROG by 162.9% in the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock valued at $74,000 after purchasing an additional 940 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Company 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.