Brian Garner Sells 5,000 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the transaction, the chief financial officer now directly owns 107,720 shares in the company, valued at approximately $5,309,518.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, November 12th, Brian Garner sold 15,484 shares of PROG stock. The stock was sold at an average price of $48.27, for a total transaction of $747,412.68.

PROG Trading Up 1.2 %

PROG stock opened at $48.84 on Thursday. The stock has a market cap of $2.03 billion, a P/E ratio of 13.53 and a beta of 2.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28. The firm’s 50 day moving average price is $46.80 and its 200-day moving average price is $41.04.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The firm had revenue of $606.10 million for 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 company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. On average, equities analysts predict that PROG Holdings, Inc. will post 3.35 earnings per share for the current fiscal year.

PROG Dividend Announcement

The business also recently disclosed 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 0.98%. The ex-dividend date is Tuesday, November 19th. PROG’s payout ratio is currently 13.30%.

Institutional Investors Weigh In On PROG

Several institutional investors and hedge funds have recently modified their holdings of PRG. FMR LLC increased its position in PROG by 1.3% in the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after purchasing an additional 30,030 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in PROG by 0.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares during the last quarter. American Century Companies Inc. increased its position in PROG by 14.1% in the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after purchasing an additional 84,497 shares during the last quarter. Clearbridge Investments LLC increased its position in PROG by 2.3% in the first quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock worth $15,182,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in PROG in the third quarter worth $19,079,000. Institutional investors own 97.92% of the company’s stock.

Analysts Set New Price Targets

PRG has been the topic of a number of research reports. 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 report on Thursday, July 25th. Raymond James raised shares of 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. Jefferies Financial Group raised their price objective on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stephens started coverage on shares of PROG in a research note on Wednesday. They set an “overweight” rating and a $60.00 target price on the stock. Finally, Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and raised their target price for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.