PROG Holdings, Inc. (NYSE:PRG) Director Caroline Sio-Chin Sheu Purchases 1,650 Shares

PROG Holdings, Inc. (NYSE:PRG) Director Caroline Sio-Chin Sheu bought 1,650 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the purchase, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PROG Stock Performance

Shares of PRG stock opened at $28.38 on Friday. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $40.30 and a 200 day moving average price of $44.40. The company has a market cap of $1.16 billion, a P/E ratio of 6.25 and a beta of 2.18. PROG Holdings, Inc. has a 12 month low of $27.61 and a 12 month high of $50.28.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

PROG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from PROG’s previous quarterly dividend of $0.12. PROG’s payout ratio is presently 10.57%.

Hedge Funds Weigh In On PROG

Institutional investors and hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new stake in PROG in the fourth quarter valued at $1,845,000. Mackenzie Financial Corp lifted its position in PROG by 170.3% in the fourth quarter. Mackenzie Financial Corp now owns 29,706 shares of the company’s stock valued at $1,255,000 after acquiring an additional 18,715 shares during the last quarter. Castleark Management LLC purchased a new stake in PROG in the fourth quarter valued at $4,416,000. PharVision Advisers LLC purchased a new stake in PROG in the fourth quarter valued at $288,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PROG by 17.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 123,881 shares of the company’s stock valued at $5,235,000 after acquiring an additional 18,760 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen raised shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. Stephens reissued an “overweight” rating and issued a $60.00 target price on shares of PROG in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group lowered PROG from a “buy” rating to a “hold” rating and cut their target price for the company from $58.00 to $29.00 in a research report on Wednesday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.00.

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.