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 business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $48.75, for a total value of $3,062,231.25. Following the sale, the director now owns 174,524 shares in the company, valued at approximately $8,508,045. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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

NYSE:PRG opened at $48.84 on Thursday. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. PROG Holdings, Inc. has a 52 week low of $26.39 and a 52 week high of $50.28. The stock’s 50-day moving average price is $46.80 and its 200-day moving average price is $41.04. The stock has a market capitalization of $2.03 billion, a PE ratio of 13.53 and a beta of 2.11.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. PROG’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 0.98%. The ex-dividend date is Tuesday, November 19th. PROG’s dividend payout ratio is presently 13.30%.

Institutional Trading of PROG

A number of institutional investors and hedge funds have recently modified their holdings of PRG. Whittier Trust Co. purchased a new stake in PROG during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new stake in shares of PROG in the third quarter worth approximately $33,000. GAMMA Investing LLC increased its position in shares of PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd acquired a new position in PROG in the 2nd quarter valued at $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in PROG in the 1st quarter valued at $59,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PRG shares. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. Stephens began coverage on PROG in a research note on Wednesday. They set an “overweight” rating and a $60.00 price objective for the company. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, TD Cowen upped their price objective on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.