Brian Garner Sells 5,000 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 5,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the transaction, the chief financial officer now directly owns 107,720 shares in the company, valued at approximately $5,309,518.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Brian Garner also recently made the following trade(s):

• On Tuesday, November 12th, Brian Garner sold 15,484 shares of PROG stock. The shares were sold at an average price of $48.27, for a total transaction of $747,412.68.

PROG Stock Performance

Shares of PROG stock opened at $48.84 on Thursday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 13.53 and a beta of 2.11. The firm’s 50-day moving average is $46.80 and its 200 day moving average is $41.04. 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.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company 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%. PROG’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. Sell-side analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

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

Wall Street Analysts Forecast Growth

PRG has been the topic of a number of recent research reports. KeyCorp upped their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Thursday, October 24th. Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. TD Cowen upped their target price on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and upped their target price for the stock from $41.00 to $55.00 in a research 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 company. According to MarketBeat, PROG has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

Institutional Trading of PROG

Institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. purchased a new stake in shares of PROG during the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG during the 3rd quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in shares of PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after acquiring an additional 337 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of PROG during the 2nd quarter valued at about $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of PROG during the 1st quarter valued at about $59,000. Hedge funds and other institutional investors 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.