PROG Holdings, Inc. (NYSE:PRG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 968,297 shares of the company's stock after selling 29,139 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.33% of PROG worth $46,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PRG. Whittier Trust Co. purchased a new position in PROG during the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new position in PROG during the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC grew its holdings in PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after buying an additional 337 shares in the last quarter. Point72 DIFC Ltd purchased a new position in PROG during the 2nd quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in PROG during the 1st quarter valued at approximately $59,000. Institutional investors own 97.92% of the company's stock.

PROG Trading Down 0.5 %

PRG traded down $0.24 during trading hours on Monday, reaching $48.42. 416,491 shares of the company's stock traded hands, compared to its average volume of 408,748. The firm has a 50-day moving average price of $47.15 and a 200 day moving average price of $42.24. PROG Holdings, Inc. has a 52-week low of $27.84 and a 52-week high of $50.28. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $2.01 billion, a PE ratio of 13.49 and a beta of 2.11.

PROG (NYSE:PRG - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business had revenue of $606.10 million during the quarter, compared to analysts' expectations of $601.86 million. During the same period in the prior year, the business earned $0.90 EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG's dividend payout ratio (DPR) is currently 13.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRG shares. KeyCorp boosted their target price on PROG from $46.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their target price on PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Raymond James raised PROG from a "market perform" rating to an "outperform" rating and set a $48.00 target price on the stock in a research report on Thursday, October 24th. TD Cowen raised PROG to a "strong-buy" rating in a research report on Friday. Finally, Stephens initiated coverage on PROG in a research report on Wednesday, November 13th. They set an "overweight" rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $53.83.

Insider Buying and Selling

In related news, Director Curtis Linn Doman sold 62,815 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $48.75, for a total transaction of $3,062,231.25. Following the transaction, the director now directly owns 174,524 shares of the company's stock, valued at $8,508,045. This represents a 26.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Todd King sold 1,500 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $46.97, for a total value of $70,455.00. Following the transaction, the insider now directly owns 37,017 shares in the company, valued at $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,207 shares of company stock worth $5,759,152 in the last three months. 2.74% of the stock is owned by insiders.

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.