PROG (NYSE:PRG) Insider Michael Todd King Sells 930 Shares

Key Points

• Insider sale: Michael Todd King sold 930 PROG shares for $42,780 at an average price of $46.00, reducing his stake by 1.48% to 61,895 shares. He also sold another 1,070 shares the following day for $49,220.
• Stock performance and earnings: 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.
• Dividend and outlook: PROG declared a quarterly dividend of $0.14, equivalent to 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 930 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $46.00, for a total value of $42,780.00. Following the transaction, the insider owned 61,895 shares of the company's stock, valued at approximately $2,847,170. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a 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 value of $49,220.00.

PROG Stock Down 5.3%

PROG stock traded down $2.43 during midday trading on Thursday, reaching $43.42. The stock had a trading volume of 455,025 shares, compared to its average volume of 527,147. The stock has a market capitalization of $1.74 billion, a P/E ratio of 11.99 and a beta of 1.79. The firm's fifty day simple moving average is $41.81 and its 200-day simple moving average is $35.77. 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 1-year low of $25.80 and a 1-year high of $47.73.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.24. The company had revenue of $719.72 million during the quarter, compared to analysts' expectations 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. As a group, analysts expect that PROG Holdings, Inc will post 4.95 EPS for the current fiscal year.

PROG Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. PROG's payout ratio is currently 15.47%.

Analyst Ratings Changes

A number of research firms have weighed in on PRG. Loop Capital downgraded PROG from a "buy" rating to a "hold" rating and set a $48.00 price target for the company. in a research note on Wednesday, July 1st. Wall Street Zen raised PROG from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Zacks Research raised shares of PROG from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Stephens boosted their target price on shares of PROG from $40.00 to $47.50 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, TD Cowen increased 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, PROG has an average rating of "Moderate Buy" and a consensus price target of $49.44.

Institutional Investors Weigh In On PROG

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in PROG in the second quarter valued at about $31,229,000. GAMMA Investing LLC lifted its holdings in shares of PROG by 19.2% in the second quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company's stock worth $136,000 after acquiring an additional 468 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of PROG in the first quarter worth about $837,000. Bank of America Corp DE boosted its stake in shares of PROG by 4.7% in the 1st quarter. Bank of America Corp DE now owns 151,827 shares of the fintech holding company's stock valued at $4,356,000 after purchasing an additional 6,760 shares in the last quarter. Finally, Amundi boosted its stake in shares of PROG by 23.6% in the 1st quarter. Amundi now owns 9,589 shares of the fintech holding company's stock valued at $275,000 after purchasing an additional 1,832 shares in the last quarter. Institutional investors own 97.92% of the company's stock.

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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