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

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

PROG Stock Performance

PROG stock traded up $0.43 during mid-day trading on Monday, hitting $28.80. The company had a trading volume of 404,903 shares, compared to its average volume of 497,603. 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 company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 6.37 and a beta of 2.18. The company's fifty day moving average is $40.30 and its 200-day moving average is $44.42. PROG Holdings, Inc. has a 12-month low of $27.61 and a 12-month high of $50.28.

PROG (NYSE:PRG - Get Free Report) last released its quarterly 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 company had revenue of $623.30 million for the quarter, compared to analyst estimates of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The firm's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. Equities research analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

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PROG Increases Dividend

The firm 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 $0.13 dividend. This is a boost from PROG's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. PROG's dividend payout ratio is presently 10.57%.

Hedge Funds Weigh In On PROG

A number of hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in shares of PROG during the 4th quarter valued at approximately $38,000. Sterling Capital Management LLC lifted its holdings in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock valued at $46,000 after purchasing an additional 957 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC grew 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 purchasing an additional 977 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of PROG during the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 97.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRG. Stephens restated an "overweight" rating and issued a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd. TD Cowen raised shares of PROG to a "strong-buy" rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and dropped their price objective for the company from $58.00 to $29.00 in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.00.

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.