Douglas C. Curling Purchases 10,000 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG - Get Free Report) Director Douglas C. Curling purchased 10,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the purchase, the director now directly owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. This represents a 27.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PROG Stock Up 2.1 %

PROG stock traded up $0.58 on Thursday, hitting $28.27. 257,613 shares of the stock traded hands, compared to its average volume of 488,657. 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 market cap of $1.17 billion, a P/E ratio of 6.22 and a beta of 2.18. The business's fifty day simple moving average is $40.85 and its 200 day simple moving average is $44.58. PROG Holdings, Inc. has a 1 year low of $27.61 and a 1 year high of $50.28.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $623.30 million during the quarter, compared to analyst estimates of $612.67 million. During the same quarter last year, the firm posted $0.72 earnings per share. The company's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

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PROG Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 13th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.84%. This is a positive change from PROG's previous quarterly dividend of $0.12. PROG's dividend payout ratio is presently 10.57%.

Institutional Trading of PROG

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. bought a new position in PROG in the 4th quarter valued at $1,845,000. Mackenzie Financial Corp grew its position in PROG by 170.3% in the 4th 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 bought a new position in PROG in the 4th quarter valued at $4,416,000. PharVision Advisers LLC bought a new position in PROG in the 4th quarter valued at $288,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PROG by 17.8% in the 4th 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. Hedge funds and other institutional investors own 97.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PRG. Stephens reissued an "overweight" rating and set a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. Jefferies Financial Group cut shares of PROG from a "buy" rating to a "hold" rating and cut their target price for the stock from $58.00 to $29.00 in a report on Wednesday. Finally, TD Cowen upgraded shares of PROG to a "strong-buy" rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.