PROG Holdings, Inc. (NYSE:PRG) Director Sells $3,062,231.25 in Stock

PROG Holdings, Inc. (NYSE:PRG) Director Curtis Linn Doman sold 62,815 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.75, for a total transaction of $3,062,231.25. Following the transaction, 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 accessible through this hyperlink.

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 transaction of $172,103.68.

PROG Stock Down 0.2 %

Shares of PRG stock traded down $0.10 on Tuesday, hitting $48.24. The stock had a trading volume of 837,523 shares, compared to its average volume of 410,476. The stock’s 50 day moving average is $46.76 and its 200-day moving average is $40.94. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.45 and a beta of 2.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts expect that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Dividend Announcement

The company 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s payout ratio is 13.30%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRG. Assenagon Asset Management S.A. acquired a new stake in PROG during the third quarter worth approximately $19,079,000. Diversify Wealth Management LLC acquired a new stake in shares of PROG during the second quarter valued at $8,794,000. SG Capital Management LLC acquired a new stake in PROG in the 1st quarter worth about $5,932,000. Fourth Sail Capital LP purchased a new stake in PROG during the second quarter valued at about $5,500,000. Finally, Millennium Management LLC boosted its position in PROG by 497.6% during the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company’s stock worth $5,580,000 after purchasing an additional 133,972 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

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.