PROG Holdings, Inc. (NYSE:PRG) CEO Sells $1,289,419.56 in Stock

PROG Holdings, Inc. (NYSE:PRG) CEO Steven A. Michaels sold 27,324 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the completion of the sale, the chief executive officer now owns 409,209 shares in the company, valued at $19,310,572.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

PROG Price Performance

PROG stock traded down $0.10 during trading hours on Tuesday, hitting $48.24. 837,523 shares of the stock were exchanged, compared to its average volume of 410,476. The business’s 50-day moving average is $46.76 and its two-hundred day moving average is $40.94. 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 stock has a market capitalization of $2.00 billion, a P/E ratio of 13.36 and a beta of 2.11. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. PROG’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities research analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. PROG’s dividend payout ratio is presently 13.30%.

Institutional Investors Weigh In On PROG

Large investors have recently modified their holdings of the business. Whittier Trust Co. purchased a new stake in PROG during the third quarter worth $26,000. Financial Management Professionals Inc. bought a new position in PROG during the third quarter valued at about $33,000. GAMMA Investing LLC raised its position 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 during the last quarter. Point72 DIFC Ltd acquired a new position in PROG in the 2nd quarter worth $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in PROG in the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRG. Loop Capital raised PROG from a “hold” rating to a “buy” rating and increased their price target for the stock from $41.00 to $55.00 in a report on Monday, August 19th. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, October 24th. Jefferies Financial Group raised their target price on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. TD Cowen increased their target price on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp raised their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.60.

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.