Insider Selling: PROG Holdings, Inc. (NYSE:PRG) Director Sells 3,584 Shares of Stock

by · The Markets Daily

PROG Holdings, Inc. (NYSE:PRG – Get Free Report) Director Curtis Linn Doman sold 3,584 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.02, for a total transaction of $172,103.68. Following the transaction, the director now owns 250,940 shares of the company’s stock, valued at approximately $12,050,138.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Curtis Linn Doman also recently made the following trade(s):

  • On Monday, November 11th, Curtis Linn Doman sold 62,815 shares of PROG stock. The shares were sold at an average price of $48.75, for a total transaction of $3,062,231.25.

PROG Price Performance

PROG stock opened at $48.84 on Thursday. The stock’s fifty day moving average price is $46.80 and its two-hundred day moving average price is $41.04. The firm has a market cap of $2.03 billion, a PE ratio of 13.53 and a beta of 2.11. 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 Holdings, Inc. has a one year low of $26.39 and a one year high of $50.28.

PROG (NYSE:PRG – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. The company 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 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 earned $0.90 earnings per share. As a group, research analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note 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. Loop Capital upgraded 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. 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. Finally, Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.83.

Check Out Our Latest Stock Analysis on PROG

Hedge Funds Weigh In On PROG

Several large investors have recently bought and sold shares of the stock. FMR LLC lifted its stake 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 purchasing an additional 30,030 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of PROG by 0.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock valued at $31,076,000 after purchasing an additional 6,803 shares during the last quarter. American Century Companies Inc. increased its position in shares of PROG by 14.1% in the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock valued at $23,746,000 after acquiring an additional 84,497 shares during the period. Clearbridge Investments LLC lifted its position in shares of PROG by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock worth $15,182,000 after purchasing an additional 9,807 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of PROG in the 3rd quarter valued at approximately $19,079,000. 97.92% of the stock is currently owned by institutional investors.

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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