Curtis Linn Doman Sells 62,815 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) Director Curtis Linn Doman sold 62,815 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $48.75, for a total transaction of $3,062,231.25. Following the transaction, the director now directly owns 174,524 shares in the company, valued at approximately $8,508,045. The trade was a 26.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, November 7th, Curtis Linn Doman sold 3,584 shares of PROG stock. The shares were sold at an average price of $48.02, for a total value of $172,103.68.

PROG Price Performance

Shares of PRG opened at $47.79 on Friday. The firm has a market capitalization of $1.99 billion, a PE ratio of 13.53 and a beta of 2.11. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The stock has a 50 day simple moving average of $46.84 and a 200 day simple moving average of $41.10.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s dividend payout ratio is 13.30%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group upped 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. KeyCorp raised their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. TD Cowen raised their price objective 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. Finally, Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.83.

Institutional Trading of PROG

A number of institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. boosted its stake in PROG by 300.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,173 shares of the company’s stock valued at $493,000 after buying an additional 7,630 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of PROG by 2,762.2% during the third quarter. Point72 Hong Kong Ltd now owns 3,635 shares of the company’s stock valued at $176,000 after purchasing an additional 3,508 shares during the period. Verition Fund Management LLC bought a new position in shares of PROG during the 3rd quarter worth about $1,376,000. Walleye Capital LLC grew its stake in shares of PROG by 476.7% in the 3rd quarter. Walleye Capital LLC now owns 150,495 shares of the company’s stock valued at $7,298,000 after buying an additional 124,397 shares during the period. Finally, Martingale Asset Management L P increased its position in PROG by 6.3% in the 3rd quarter. Martingale Asset Management L P now owns 34,634 shares of the company’s stock valued at $1,679,000 after buying an additional 2,042 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

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.