Insider Selling: PROG (NYSE:PRG) CAO Sells $91,060.00 in Stock

Key Points

• PROG’s chief accounting officer George Sewell sold 2,000 shares at an average price of $45.53, generating $91,060 and reducing his ownership by 6.58% to 28,385 shares.
• Shares fell 5.3% to $43.42, despite PROG reporting quarterly EPS of $1.19, exceeding analyst expectations of $0.95, and revenue of $719.72 million.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $49.44; PROG also declared a quarterly dividend of $0.14 per share.

PROG Holdings, Inc (NYSE:PRG - Get Free Report) CAO George Sewell sold 2,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total value of $91,060.00. Following the completion of the sale, the chief accounting officer owned 28,385 shares of the company's stock, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

PROG Stock Down 5.3%

Shares of PRG traded down $2.43 during midday trading on Thursday, reaching $43.42. 455,025 shares of the company were exchanged, compared to its average volume of 527,147. PROG Holdings, Inc has a 1-year low of $25.80 and a 1-year high of $47.73. The stock has a 50-day moving average price of $41.81 and a 200-day moving average price of $35.77. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 11.99 and a beta of 1.79.

PROG (NYSE:PRG - Get Free Report) last posted its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.24. The business had revenue of $719.72 million during the quarter, compared to analyst estimates of $713.50 million. PROG had a return on equity of 21.88% and a net margin of 5.57%.PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. Research analysts expect that PROG Holdings, Inc will post 4.95 earnings per share for the current year.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 18th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. PROG's payout ratio is currently 15.47%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRG. KeyCorp raised their target price on PROG from $45.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Wall Street Zen raised PROG from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Stephens increased their price target on PROG from $40.00 to $47.50 and gave the company an "overweight" rating in a report on Thursday, April 30th. B. Riley Financial raised their price objective on PROG from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, TD Cowen lifted their price objective on PROG from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, PROG currently has a consensus rating of "Moderate Buy" and an average price target of $49.44.

Hedge Funds Weigh In On PROG

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased 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 valued at $955,000 after acquiring an additional 6,807 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PROG by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company's stock worth $648,000 after acquiring an additional 1,162 shares during the period. Millennium Management LLC boosted its position in PROG by 62.7% during the 1st quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company's stock worth $17,913,000 after acquiring an additional 259,630 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of PROG by 5.4% in the first quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company's stock worth $8,342,000 after purchasing an additional 16,126 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in shares of PROG in the first quarter worth $233,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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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