George M. Sewell Sells 3,500 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) VP George M. Sewell sold 3,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total transaction of $171,080.00. Following the sale, the vice president now directly owns 12,639 shares in the company, valued at approximately $617,794.32. This represents a 21.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PROG Price Performance

PROG stock opened at $47.72 on Friday. 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 $1.98 billion, a P/E ratio of 13.22 and a beta of 2.11. The business has a 50-day moving average of $46.92 and a 200-day moving average of $41.23. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.01%. PROG’s dividend payout ratio is presently 13.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PRG shares. Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. KeyCorp upped their price target on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. TD Cowen lifted 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. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and raised their target price for the company from $41.00 to $55.00 in a research note 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new position in PROG in the 3rd quarter worth $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG during the third quarter worth about $33,000. GAMMA Investing LLC raised its position in PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after buying an additional 337 shares during the last quarter. Point72 DIFC Ltd bought a new stake in PROG in the 2nd quarter valued at approximately $47,000. Finally, Quarry LP boosted its position in PROG by 162.9% during the 3rd quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after acquiring an additional 940 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

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.