PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner Buys 3,500 Shares

PROG Holdings, Inc. (NYSE:PRG) CFO Brian Garner acquired 3,500 shares of PROG stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired 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 owns 132,597 shares in the company, valued at approximately $3,836,031.21. This represents a 2.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PROG Price Performance

Shares of NYSE:PRG opened at $28.76 on Thursday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 6.33 and a beta of 1.81. The business has a 50-day moving average of $26.55 and a two-hundred day moving average of $36.82. PROG Holdings, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $50.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.08. The firm had revenue of $684.09 million during the quarter, compared to analyst estimates of $678.23 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. On average, equities research analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. PROG’s payout ratio is presently 10.66%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRG shares. KeyCorp lowered their target price on PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Loop Capital dropped their target price on PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group lowered shares of 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 report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.83.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of PROG in the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd grew its holdings in PROG by 785.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,045 shares of the company’s stock valued at $28,000 after buying an additional 927 shares during the last quarter. Sterling Capital Management LLC increased its position in PROG by 765.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after buying an additional 957 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of PROG by 141.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after buying an additional 707 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of PROG by 248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock valued at $57,000 after acquiring an additional 977 shares during the period. Institutional investors 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.