PROG Holdings, Inc. (NYSE:PRG) CEO Sells $1,289,419.56 in Stock

by · The Markets Daily

PROG Holdings, Inc. (NYSE:PRG – Get Free Report) CEO Steven A. Michaels sold 27,324 shares of PROG stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.19, for a total value of $1,289,419.56. Following the transaction, the chief executive officer now directly owns 409,209 shares of the company’s stock, valued at $19,310,572.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PROG Trading Up 1.2 %

Shares of PROG stock opened at $48.84 on Thursday. PROG Holdings, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The business’s fifty day moving average is $46.80 and its two-hundred day moving average is $41.04. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The firm has a market cap of $2.03 billion, a PE ratio of 13.53 and a beta of 2.11.

PROG (NYSE:PRG – Get Free Report) last released its earnings results 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 firm 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 firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. Analysts anticipate that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. PROG’s payout ratio is 13.30%.

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on PRG

Hedge Funds Weigh In On PROG

Institutional investors and hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA acquired a new position in shares of PROG in the 3rd quarter valued at $273,000. Quantbot Technologies LP purchased a new position in shares of PROG in the 3rd quarter worth $718,000. FMR LLC boosted its holdings in PROG by 1.3% in the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock valued at $117,846,000 after acquiring an additional 30,030 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in PROG by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 22,601 shares of the company’s stock valued at $1,096,000 after acquiring an additional 1,104 shares during the period. Finally, Alpha DNA Investment Management LLC acquired a new stake in PROG during the third quarter worth about $453,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

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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