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 stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total value of $246,450.00. Following the sale, the chief financial officer now owns 107,720 shares in the company, valued at approximately $5,309,518.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

PROG Stock Performance

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

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The firm 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%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, research analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. PROG’s payout ratio is 13.30%.

Hedge Funds Weigh In On PROG

Several hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. bought a new stake in PROG during the third quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new position in PROG in the third quarter worth $33,000. GAMMA Investing LLC boosted its holdings in PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after purchasing an additional 337 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of PROG in the second quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in PROG in the 1st quarter valued at about $59,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. TD Cowen boosted their price target 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. KeyCorp raised their price target on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and lifted their price target for the company from $41.00 to $55.00 in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.60.

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.