Michael Todd King Sells 1,500 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) insider Michael Todd King sold 1,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the sale, the insider now owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PROG Stock Down 0.2 %

NYSE PRG traded down $0.10 during mid-day trading on Tuesday, hitting $48.24. The company’s stock had a trading volume of 837,523 shares, compared to its average volume of 410,476. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.36 and a beta of 2.11. The company’s 50 day simple moving average is $46.76 and its 200 day simple moving average is $40.94. PROG Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $50.28.

PROG (NYSE:PRG) last issued 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 company had revenue of $606.10 million for the quarter, compared to the consensus estimate of $601.86 million. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PRG. Jefferies Financial Group raised their price target on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. KeyCorp upped their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. TD Cowen lifted their price target on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and raised their price objective for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, Raymond James upgraded shares of 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PROG currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRG. Whittier Trust Co. purchased a new stake in PROG in the third quarter worth approximately $26,000. Financial Management Professionals Inc. purchased a new stake in PROG in the third quarter worth approximately $33,000. GAMMA Investing LLC boosted its stake in PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in PROG in the second quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in PROG in the first quarter worth approximately $59,000. 97.92% of the stock is currently owned by institutional investors.

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.