PROG Holdings, Inc. (NYSE:PRG) Insider Michael Todd King Sells 1,500 Shares of Stock

PROG Holdings, Inc. (NYSE:PRG) insider Michael Todd King sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the sale, the insider now owns 37,017 shares of the company’s stock, valued at $1,738,688.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

PROG Trading Down 0.2 %

Shares of NYSE PRG opened at $48.24 on Wednesday. PROG Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $50.28. The firm has a market cap of $2.00 billion, a PE ratio of 13.36 and a beta of 2.11. The business has a fifty day simple moving average of $46.76 and a two-hundred day simple moving average of $40.94. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 firm had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same period in the previous year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s dividend payout ratio is presently 13.30%.

Analysts Set New Price Targets

Several brokerages have issued reports on PRG. 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 research note on Thursday, October 24th. TD Cowen raised their price target on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Loop Capital raised PROG from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Jefferies Financial Group lifted their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, KeyCorp upped their price target 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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Hedge Funds Weigh In On PROG

Several institutional investors have recently bought and sold shares of PRG. Whittier Trust Co. bought a new stake in PROG during the 3rd quarter valued at $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG during the 3rd quarter worth $33,000. GAMMA Investing LLC boosted its position in PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd purchased a new position in PROG in the second quarter valued at about $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in PROG in the first quarter worth about $59,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

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.