Key Points
- Insider sale: Propel insider Cindy Usprech sold 9,196 shares at an average price of C$25.86, totaling C$237,808.56. She also sold 2,000 shares earlier in September for C$50,160.
- Dividend increase: Propel raised its quarterly dividend from C$0.24 to C$0.255 per share, equivalent to an annualized C$1.02 dividend and a 4.1% yield.
- Analyst outlook remains positive: Multiple brokerages raised their price targets to between C$34 and C$38, and the stock carries a consensus “Buy” rating.
Propel Holdings Inc. (TSE:PRL - Get Free Report) insider Cindy Usprech sold 9,196 shares of the 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 stock was sold at an average price of $25.08, for a total transaction of $50,160.00.
Propel Price Performance
Propel stock opened at $24.99 on Friday. Propel Holdings Inc. has a one year low of $17.24 and a one year high of $31.38. The firm has a market cap of $983.66 million, a PE ratio of 18.24 and a beta of 0.89. The stock's fifty day moving average price is $25.42 and its two-hundred day moving average price is $23.13.
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 paid a dividend of $0.2550 per share. The ex-dividend date was Friday, August 14th. This is a positive change from Propel's previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 4.1%. Propel's dividend payout ratio is currently 46.03%.
Analysts Set New Price Targets
Several brokerages have recently commented on PRL. TD Securities upgraded shares of Propel to a "strong-buy" rating in a research report on Tuesday, July 14th. TD increased their price target on shares of Propel from C$33.00 to C$37.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Raymond James Financial raised shares of Propel from a "moderate buy" rating to a "strong-buy" rating and lifted their price objective for the company from C$31.00 to C$38.00 in a research note on Thursday, August 6th. Ventum boosted their price objective on shares of Propel from C$30.00 to C$34.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, ATB Cormark Capital Markets upped their target price on Propel from C$29.00 to C$38.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Two investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy".
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Propel Company Profile
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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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