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 stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PROG Trading Down 0.2 %

Shares of NYSE:PRG traded down $0.10 on Tuesday, reaching $48.24. 837,523 shares of the company traded hands, compared to its average volume of 410,476. The business’s 50-day simple moving average is $46.76 and its 200 day simple moving average is $40.94. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. 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 52 week low of $26.39 and a 52 week high of $50.28.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 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 analysts’ expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.00%. PROG’s dividend payout ratio (DPR) is 13.30%.

Institutional Investors Weigh In On PROG

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. boosted its holdings in PROG by 83.6% during the first quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after buying an additional 118,698 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of PROG by 45.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,994 shares of the company’s stock valued at $2,199,000 after buying an additional 19,924 shares in the last quarter. Keeley Teton Advisors LLC lifted its position in shares of PROG by 35.3% in the first quarter. Keeley Teton Advisors LLC now owns 49,574 shares of the company’s stock worth $1,707,000 after buying an additional 12,928 shares during the last quarter. Sei Investments Co. bought a new position in PROG during the first quarter valued at about $815,000. Finally, Diversify Wealth Management LLC acquired a new position in PROG during the 2nd quarter worth $8,794,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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