PROG Holdings, Inc. (NYSE:PRG) CFO Sells $747,412.68 in Stock

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 15,484 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.27, for a total value of $747,412.68. Following the transaction, the chief financial officer now owns 92,236 shares in the company, valued at $4,452,231.72. This trade represents a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $246,450.00.

PROG Price Performance

PRG stock opened at $47.79 on Friday. The firm has a 50 day moving average of $46.84 and a 200-day moving average of $41.10. PROG Holdings, Inc. has a 12-month low of $26.39 and a 12-month high of $50.28. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 13.53 and a beta of 2.11.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $601.86 million. During the same period last year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. PROG’s dividend payout ratio is currently 13.30%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. acquired a new position in shares of PROG during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC raised its position in shares of PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of PROG during the 2nd quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of PROG during the 1st quarter worth approximately $59,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Thursday, October 24th. TD Cowen increased their price objective on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stephens initiated coverage on PROG in a research note on Wednesday. They issued an “overweight” rating and a $60.00 price objective on the stock. KeyCorp increased their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group increased their price objective on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.