PROG Holdings, Inc (NYSE:PRG – Get Free Report) insider Michael Todd King sold 930 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.00, for a total transaction of $42,780.00. Following the sale, the insider directly owned 61,895 shares in the company, valued at approximately $2,847,170. The trade was a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Michael Todd King also recently made the following trade(s):
- On Wednesday, August 5th, Michael Todd King sold 1,070 shares of PROG stock. The stock was sold at an average price of $46.00, for a total transaction of $49,220.00.
PROG Price Performance
Shares of PRG traded down $2.43 during trading hours on Thursday, reaching $43.42. The stock had a trading volume of 455,025 shares, compared to its average volume of 527,147. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.29 and a current ratio of 4.03. PROG Holdings, Inc has a 12 month low of $25.80 and a 12 month high of $47.73. The stock has a market capitalization of $1.74 billion, a PE ratio of 11.99 and a beta of 1.79. The company’s 50-day moving average is $41.81 and its two-hundred day moving average is $35.77.
PROG Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 18th. PROG’s payout ratio is 15.47%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PRG. KeyCorp raised their price objective on shares of PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and set a $45.00 target price on shares of PROG in a report on Thursday, April 30th. Wall Street Zen upgraded shares of PROG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. TD Cowen raised their price target on shares of PROG from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Stephens lifted their price target on shares of PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.44.
Institutional Investors Weigh In On PROG
Several large investors have recently added to or reduced their stakes in PRG. Royal Bank of Canada raised its position in PROG by 23.4% in the 1st quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company’s stock worth $955,000 after purchasing an additional 6,807 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PROG by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock valued at $648,000 after buying an additional 1,162 shares during the period. Millennium Management LLC grew its stake in shares of PROG by 62.7% during the first quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock valued at $17,913,000 after buying an additional 259,630 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of PROG by 5.4% during the first quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company’s stock valued at $8,342,000 after buying an additional 16,126 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of PROG in the first quarter worth about $233,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.
About PROG
PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.
The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.
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