PROG Holdings, Inc. (NYSE:PRG) Director Purchases $46,216.50 in Stock

PROG Holdings, Inc. (NYSE:PRG) Director Caroline Sio-Chin Sheu bought 1,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the transaction, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PROG Price Performance

NYSE:PRG opened at $28.38 on Friday. 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 stock has a market capitalization of $1.16 billion, a PE ratio of 6.25 and a beta of 2.18. The stock’s 50-day moving average price is $40.30 and its 200-day moving average price is $44.40.

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

PROG Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.83%. This is a boost from PROG’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, March 13th. PROG’s payout ratio is presently 10.57%.

Institutional Investors Weigh In On PROG

Several institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PROG by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company’s stock worth $980,000 after buying an additional 446 shares during the last quarter. LPL Financial LLC boosted its holdings in PROG by 2.4% in the 4th quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock worth $833,000 after buying an additional 458 shares during the last quarter. Comerica Bank boosted its holdings in PROG by 1.2% in the 4th quarter. Comerica Bank now owns 39,029 shares of the company’s stock worth $1,649,000 after buying an additional 473 shares during the last quarter. State of Wyoming lifted its stake in PROG by 10.9% in the 4th quarter. State of Wyoming now owns 5,694 shares of the company’s stock worth $241,000 after purchasing an additional 560 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in PROG by 4.1% in the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company’s stock worth $684,000 after purchasing an additional 631 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.