PROG Holdings, Inc. (NYSE:PRG) VP George M. Sewell Sells 3,500 Shares of Stock

PROG Holdings, Inc. (NYSE:PRG) VP George M. Sewell sold 3,500 shares of PROG stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the sale, the vice president now directly owns 12,639 shares in the company, valued at $617,794.32. This represents a 21.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

PROG Stock Up 0.6 %

NYSE:PRG traded up $0.29 during mid-day trading on Friday, hitting $48.08. The company had a trading volume of 42,318 shares, compared to its average volume of 409,045. The business has a fifty day simple moving average of $46.87 and a 200-day simple moving average of $41.14. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.24 and a beta of 2.11. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. The business had revenue of $606.10 million for the quarter, compared to the consensus estimate of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. Equities analysts forecast that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal year.

PROG Dividend Announcement

The company 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s payout ratio is currently 13.30%.

Wall Street Analysts Forecast Growth

PRG has been the topic of a number of analyst reports. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Thursday, October 24th. TD Cowen boosted their price objective on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. KeyCorp upped their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price target on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PROG has an average rating of “Moderate Buy” and an average target price of $53.83.

Institutional Investors Weigh In On PROG

Large investors have recently added to or reduced their stakes in the company. 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 valued at $8,979,000 after buying an additional 118,698 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in PROG by 45.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,994 shares of the company’s stock valued at $2,199,000 after purchasing an additional 19,924 shares during the last quarter. Keeley Teton Advisors LLC grew its stake in PROG by 35.3% during the 1st quarter. Keeley Teton Advisors LLC now owns 49,574 shares of the company’s stock valued at $1,707,000 after purchasing an additional 12,928 shares in the last quarter. Sei Investments Co. purchased a new stake in PROG during the 1st quarter worth approximately $815,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of PROG in the 2nd quarter valued at approximately $8,794,000. 97.92% of the stock is owned by institutional investors and hedge funds.

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.