PROG Holdings, Inc. (NYSE:PRG - Get Free Report) VP George M. Sewell sold 3,500 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
PROG Stock Performance
PROG stock traded up $0.29 during mid-day trading on Friday, hitting $48.08. 42,318 shares of the company's stock traded hands, compared to its average volume of 409,045. 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 Holdings, Inc. has a one year low of $26.39 and a one year high of $50.28. The firm has a 50 day moving average price of $46.87 and a 200 day moving average price of $41.14. The company has a market cap of $2.00 billion, a PE ratio of 13.24 and a beta of 2.11.
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PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, equities analysts forecast that PROG Holdings, Inc. will post 3.35 EPS for the current year.
PROG Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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%.
Wall Street Analysts Forecast Growth
PRG has been the subject of a number of research analyst reports. Jefferies Financial Group boosted 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. Loop Capital raised shares of PROG from a "hold" rating to a "buy" rating and boosted their price objective for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Stephens initiated coverage on shares of PROG in a research note on Wednesday. They set an "overweight" rating and a $60.00 price objective on the stock. TD Cowen raised their price target on PROG from $40.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Finally, KeyCorp upped their price objective on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PROG has an average rating of "Moderate Buy" and a consensus target price of $53.83.
Read Our Latest Stock Analysis on PROG
Institutional Investors Weigh In On PROG
A number of institutional investors have recently added to or reduced their stakes in PRG. Whittier Trust Co. acquired a new position in shares of PROG during the 3rd quarter valued at $26,000. Financial Management Professionals Inc. acquired a new position in PROG during the third quarter worth about $33,000. GAMMA Investing LLC raised its position in PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock worth $39,000 after acquiring an additional 337 shares in the last quarter. Point72 DIFC Ltd bought a new stake in PROG in the second quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PROG during the 1st quarter valued at about $59,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.
About PROG
(
Get Free Report)
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.
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