Insider Selling: PROG Holdings, Inc. (NYSE:PRG) VP Sells $171,080.00 in Stock

PROG Holdings, Inc. (NYSE:PRG) VP George M. Sewell sold 3,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the sale, the vice president now owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PROG Stock Performance

Shares of PRG stock opened at $47.72 on Friday. The business has a fifty day moving average of $46.92 and a 200 day moving average of $41.29. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 13.22 and a beta of 2.11.

PROG (NYSE:PRG) last announced its quarterly earnings data 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 firm had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. As a group, research analysts expect that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date is Tuesday, November 19th. PROG’s payout ratio is 13.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PRG shares. KeyCorp lifted their target price on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. TD Cowen increased their target price on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Stephens assumed coverage on shares of PROG in a research note on Wednesday. They issued an “overweight” rating and a $60.00 target price for the company. Loop Capital raised PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, 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 research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.83.

Institutional Trading of PROG

A number of hedge funds and other institutional investors have recently made changes to their positions in PRG. Texas Permanent School Fund Corp boosted its holdings in PROG by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock valued at $1,348,000 after purchasing an additional 525 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of PROG in the first quarter worth about $815,000. ProShare Advisors LLC raised its position in PROG by 7.3% during the first quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock valued at $308,000 after acquiring an additional 612 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in PROG by 54.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,399 shares of the company’s stock valued at $703,000 after acquiring an additional 7,180 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its position in PROG by 83.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after purchasing an additional 118,698 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

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.