PROG Holdings, Inc. (NYSE:PRG) Director Caroline Sio-Chin Sheu Purchases 1,650 Shares

PROG Holdings, Inc. (NYSE:PRG) Director Caroline Sio-Chin Sheu acquired 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the transaction, the director now owns 18,291 shares of the company’s stock, valued at $512,330.91. The trade was a 9.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

PROG Stock Up 1.0 %

Shares of NYSE PRG opened at $27.97 on Friday. The firm’s fifty day moving average is $40.57 and its 200 day moving average is $44.46. PROG Holdings, Inc. has a 52 week low of $27.61 and a 52 week high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 6.16 and a beta of 2.18.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $623.30 million for the quarter, compared to analysts’ expectations of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, equities research analysts expect that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.52 annualized dividend and a yield of 1.86%. This is a boost from PROG’s previous quarterly dividend of $0.12. PROG’s dividend payout ratio (DPR) is 10.57%.

Institutional Investors Weigh In On PROG

Large investors have recently made changes to their positions in the business. Creative Planning boosted its holdings in PROG by 34.5% in the third quarter. Creative Planning now owns 9,018 shares of the company’s stock valued at $437,000 after acquiring an additional 2,312 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of PROG during the 3rd quarter valued at about $3,080,000. DekaBank Deutsche Girozentrale purchased a new position in shares of PROG during the third quarter valued at about $83,000. Los Angeles Capital Management LLC purchased a new position in shares of PROG during the third quarter valued at about $1,972,000. Finally, Natixis Advisors LLC raised its stake in PROG by 4.8% in the third quarter. Natixis Advisors LLC now owns 14,661 shares of the company’s stock worth $711,000 after buying an additional 675 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRG. Jefferies Financial Group cut shares of PROG from a “buy” rating to a “hold” rating and cut their price target for the stock from $58.00 to $29.00 in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of PROG in a research report on Thursday, January 2nd. Finally, TD Cowen upgraded PROG to a “strong-buy” rating in a research report on Friday, November 29th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

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.