PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner Sells 5,000 Shares

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the transaction, the chief financial officer now owns 107,720 shares in the company, valued at $5,309,518.80. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, November 12th, Brian Garner sold 15,484 shares of PROG stock. The stock was sold at an average price of $48.27, for a total transaction of $747,412.68.

PROG Trading Down 2.1 %

Shares of PRG opened at $47.79 on Friday. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The company’s fifty day moving average is $46.87 and its 200 day moving average is $41.14. The stock has a market capitalization of $1.99 billion, a PE ratio of 13.24 and a beta of 2.11.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. During the same period last year, the company earned $0.90 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts expect that PROG Holdings, Inc. will post 3.35 earnings per share 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 given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Tuesday, November 19th. PROG’s dividend payout ratio (DPR) is currently 13.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen raised their target price on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Loop Capital raised PROG from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. Raymond James upgraded 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. KeyCorp lifted their price objective 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. Finally, Stephens started coverage on shares of PROG in a report on Wednesday. They issued an “overweight” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PROG has a consensus rating of “Moderate Buy” and a consensus price target of $53.83.

Institutional Trading of PROG

Several institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in shares of PROG during the 3rd quarter worth $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted its holdings in PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after acquiring an additional 337 shares during the period. Point72 DIFC Ltd purchased a new stake in PROG during the 2nd quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG in the first quarter valued at $59,000. Institutional investors own 97.92% of the company’s stock.

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.