Propel (TSE:PRL) Insider Sells 9,196 Shares of Stock

Key Points

• Insider activity: Propel insider Cindy Usprech sold 9,196 shares at an average price of C$25.86, totaling approximately C$237,809. She also sold 2,000 shares earlier in September.
• Dividend increase: Propel raised its quarterly dividend from C$0.24 to C$0.255, implying an annualized dividend of C$1.02 and a yield of about 4.1%.
• Analyst outlook remains positive: Analysts maintain a consensus “Buy” rating, with several firms raising price targets to between C$37 and C$38.

Propel Holdings Inc. (TSE:PRL - Get Free Report) insider Cindy Usprech sold 9,196 shares of the firm's stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $25.86, for a total transaction of $237,808.56.

Cindy Usprech also recently made the following trade(s):

• On Tuesday, September 1st, Cindy Usprech sold 2,000 shares of Propel stock. The shares were sold at an average price of $25.08, for a total transaction of $50,160.00.

Propel Stock Performance

TSE PRL traded down $0.14 during mid-day trading on Friday, reaching $24.99. 131,928 shares of the stock were exchanged, compared to its average volume of 231,084. The company has a market capitalization of $983.66 million, a P/E ratio of 18.24 and a beta of 0.89. The business's 50 day moving average is $25.42 and its 200-day moving average is $23.13. Propel Holdings Inc. has a 1 year low of $17.24 and a 1 year high of $31.38.

Propel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were given a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Propel's previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 14th. Propel's payout ratio is currently 46.03%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRL. TD raised their target price on Propel from C$33.00 to C$37.00 and gave the company a "buy" rating in a research report on Friday, August 7th. ATB Cormark Capital Markets increased their price target on Propel from C$29.00 to C$38.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. TD Securities raised Propel to a "strong-buy" rating in a report on Tuesday, July 14th. Stifel Nicolaus set a C$38.00 price objective on Propel and gave the company a "buy" rating in a research report on Monday, August 31st. Finally, Scotia upped their target price on Propel from C$27.00 to C$29.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy".

About Propel

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).

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