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 firm’s stock in a transaction dated 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 transaction, the vice president now owns 12,639 shares of the company’s stock, valued at $617,794.32. The trade was a 21.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PROG Trading Down 0.1 %

Shares of PROG stock 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 business has a fifty day simple moving average of $46.92 and a two-hundred day simple moving average of $41.23. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 13.22 and a beta of 2.11.

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

PROG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, November 19th. PROG’s payout ratio is 13.30%.

Hedge Funds Weigh In On PROG

A number of large investors have recently made changes to their positions in PRG. Whittier Trust Co. acquired a new position in PROG in the 3rd quarter valued at $26,000. Financial Management Professionals Inc. bought a new position in PROG during the third quarter worth about $33,000. GAMMA Investing LLC raised its stake in PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd bought a new stake in PROG in the 2nd quarter valued at about $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of PROG during the 1st quarter worth approximately $59,000. Institutional investors own 97.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRG. Stephens initiated coverage on PROG in a research report on Wednesday. They set an “overweight” rating and a $60.00 price target for the company. Jefferies Financial Group increased their price objective on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. TD Cowen boosted their target price on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Raymond James upgraded 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 note on Thursday, October 24th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PROG has a consensus rating of “Moderate Buy” and a consensus price target of $53.83.

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.