PROG Holdings, Inc. (NYSE:PRG) CFO Purchases $101,255.00 in Stock

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner purchased 3,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $28.93 per share, with a total value of $101,255.00. Following the completion of the purchase, the chief financial officer now directly owns 132,597 shares in the company, valued at approximately $3,836,031.21. This represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PROG Stock Up 4.7%

Shares of PRG stock opened at $30.03 on Friday. The stock’s 50 day simple moving average is $26.61 and its 200 day simple moving average is $36.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. PROG Holdings, Inc. has a twelve month low of $23.50 and a twelve month high of $50.28. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.61 and a beta of 1.81.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, research analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Tuesday, May 20th. PROG’s dividend payout ratio (DPR) is currently 10.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRG. Loop Capital cut their price target on PROG from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. KeyCorp cut their price target on PROG from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and cut their price objective for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PROG currently has an average rating of “Moderate Buy” and a consensus target price of $44.83.

Institutional Trading of PROG

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in PROG by 13.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,411 shares of the company’s stock valued at $91,000 after buying an additional 413 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PROG by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company’s stock valued at $980,000 after buying an additional 446 shares during the last quarter. LPL Financial LLC grew its holdings in PROG by 2.4% in the 4th quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock valued at $833,000 after buying an additional 458 shares during the last quarter. Comerica Bank grew its holdings in PROG by 1.2% in the 4th quarter. Comerica Bank now owns 39,029 shares of the company’s stock valued at $1,649,000 after buying an additional 473 shares during the last quarter. Finally, State of Wyoming grew its holdings in PROG by 10.9% in the 4th quarter. State of Wyoming now owns 5,694 shares of the company’s stock valued at $241,000 after buying an additional 560 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

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.