Brian Garner Sells 15,484 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 15,484 shares of PROG stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.27, for a total transaction of $747,412.68. Following the sale, the chief financial officer now directly owns 92,236 shares of the company’s stock, valued at $4,452,231.72. The trade was a 0.00 % decrease in their position. The sale 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 Price Performance

Shares of NYSE:PRG opened at $48.84 on Thursday. The firm has a 50 day moving average of $46.80 and a 200-day moving average of $41.04. The stock has a market capitalization of $2.03 billion, a PE ratio of 13.53 and a beta of 2.11. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. PROG Holdings, Inc. has a 12 month low of $26.39 and a 12 month high of $50.28.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 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 analysts’ expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. On average, equities research analysts predict that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

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 0.98%. The ex-dividend date is Tuesday, November 19th. PROG’s payout ratio is presently 13.30%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRG. Stephens began coverage on shares of PROG in a report on Wednesday. They set an “overweight” rating and a $60.00 target price for the company. Jefferies Financial Group boosted their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $55.00 in a report on Monday, August 19th. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Thursday, October 24th. Finally, TD Cowen boosted their price objective on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.83.

Hedge Funds Weigh In On PROG

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of PROG by 1.3% in the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after buying an additional 30,030 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in PROG by 0.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares in the last quarter. American Century Companies Inc. increased its position in PROG by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after purchasing an additional 84,497 shares in the last quarter. Clearbridge Investments LLC increased its position in PROG by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock worth $15,182,000 after purchasing an additional 9,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in PROG during the 3rd quarter worth approximately $19,079,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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.