PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner Sells 15,484 Shares

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 15,484 shares of PROG stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $48.27, for a total transaction of $747,412.68. Following the completion of the sale, the chief financial officer now directly owns 92,236 shares of the company’s stock, valued at $4,452,231.72. The trade was a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, November 7th, Brian Garner sold 5,000 shares of PROG stock. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00.

PROG Stock Down 2.1 %

Shares of PROG stock opened at $47.79 on Friday. The company has a fifty day moving average price of $46.84 and a 200 day moving average price of $41.10. 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 Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $50.28. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 13.53 and a beta of 2.11.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The firm had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. During the same period in the prior year, the company earned $0.90 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. PROG’s dividend payout ratio is currently 13.30%.

Hedge Funds Weigh In On PROG

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in PROG by 1.3% in the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after buying an additional 30,030 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in PROG by 0.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after buying an additional 6,803 shares in the last quarter. American Century Companies Inc. lifted its holdings in PROG by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after buying an additional 84,497 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in 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 buying an additional 9,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in PROG in the 3rd quarter worth $19,079,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD Cowen lifted their target price on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group boosted their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Thursday, October 24th. Stephens assumed coverage on shares of PROG in a research note on Wednesday. They set an “overweight” rating and a $60.00 price objective for the company. Finally, KeyCorp boosted their price objective on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.83.

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.