Insider Selling: PROG (NYSE:PRG) Insider Sells 1,070 Shares

Key Points

• PROG insider Michael Todd King sold 1,070 shares at an average price of $46, generating $49,220 and reducing his holdings by 1.73% to 60,825 shares. He also sold 930 shares the previous day.
• PROG shares fell 5.3% to $43.42, despite the company reporting quarterly EPS of $1.19, exceeding analyst expectations of $0.95, and revenue of $719.72 million.
• The company declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 payout and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $49.44.

PROG Holdings, Inc (NYSE:PRG - Get Free Report) insider Michael Todd King sold 1,070 shares of PROG stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total value of $49,220.00. Following the completion of the sale, the insider owned 60,825 shares of the company's stock, valued at $2,797,950. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Todd King also recently made the following trade(s):

• On Tuesday, August 4th, Michael Todd King sold 930 shares of PROG stock. The stock was sold at an average price of $46.00, for a total transaction of $42,780.00.

PROG Trading Down 5.3%

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

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

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 18th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 18th. PROG's dividend payout ratio (DPR) is 15.47%.

Wall Street Analyst Weigh In

PRG has been the subject of a number of research analyst reports. Zacks Research raised shares of PROG from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Loop Capital downgraded shares of PROG from a "buy" rating to a "hold" rating and set a $48.00 target price on the stock. in a research note on Wednesday, July 1st. Stephens lifted their target price on shares of PROG from $40.00 to $47.50 and gave the company an "overweight" rating in a report on Thursday, April 30th. B. Riley Financial upped their price target on shares of PROG from $57.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded PROG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, PROG currently has an average rating of "Moderate Buy" and a consensus price target of $49.44.

Institutional Investors Weigh In On PROG

Several hedge funds and other institutional investors have recently bought and sold shares of PRG. Quarry LP increased its stake in shares of PROG by 82.8% in the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company's stock worth $33,000 after buying an additional 506 shares during the last quarter. Global Assets Advisory LLC bought a new position in PROG during the 1st quarter valued at $38,000. Federation des caisses Desjardins du Quebec bought a new position in PROG during the 4th quarter valued at $44,000. WealthCollab LLC grew its holdings in PROG by 61.9% during the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company's stock worth $61,000 after acquiring an additional 800 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of PROG in the 1st quarter worth about $129,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

PROG Company Profile

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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