PROG Holdings, Inc. (NYSE:PRG) Director Purchases $46,216.50 in Stock

PROG Holdings, Inc. (NYSE:PRG) Director Caroline Sio-Chin Sheu purchased 1,650 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the acquisition, the director now owns 18,291 shares of the company’s stock, valued at approximately $512,330.91. The trade was a 9.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

PROG Price Performance

NYSE:PRG traded up $0.28 during trading hours on Thursday, hitting $27.97. The company’s stock had a trading volume of 593,920 shares, compared to its average volume of 497,658. PROG Holdings, Inc. has a 52-week low of $27.61 and a 52-week high of $50.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. The company has a market capitalization of $1.16 billion, a PE ratio of 6.16 and a beta of 2.18. The business’s 50-day moving average is $40.85 and its two-hundred day moving average is $44.58.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $623.30 million for the quarter, compared to the consensus estimate of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. As a group, research analysts anticipate that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, March 13th. This is a positive change from PROG’s previous quarterly dividend of $0.12. PROG’s dividend payout ratio (DPR) is currently 10.57%.

Institutional Investors Weigh In On PROG

Several hedge funds have recently modified their holdings of PRG. Jefferies Financial Group Inc. acquired a new position in PROG in the 4th quarter worth about $1,845,000. Mackenzie Financial Corp increased its position in shares of PROG by 170.3% during the 4th quarter. Mackenzie Financial Corp now owns 29,706 shares of the company’s stock worth $1,255,000 after purchasing an additional 18,715 shares in the last quarter. Castleark Management LLC acquired a new position in PROG in the fourth quarter valued at about $4,416,000. PharVision Advisers LLC bought a new stake in PROG during the fourth quarter worth about $288,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PROG by 17.8% during 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 worth $5,235,000 after buying an additional 18,760 shares in the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRG has been the subject of several recent research reports. Jefferies Financial Group downgraded PROG from a “buy” rating to a “hold” rating and decreased their price objective for the company from $58.00 to $29.00 in a report on Wednesday. Stephens restated an “overweight” rating and issued a $60.00 price target on shares of PROG in a report on Thursday, January 2nd. Finally, TD Cowen upgraded PROG to a “strong-buy” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.