PROG Holdings, Inc. (NYSE:PRG) Receives Consensus Rating of “Moderate Buy” from Analysts

PROG Holdings, Inc. (NYSE:PRG) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $53.83.

A number of research analysts recently weighed in on PRG shares. KeyCorp lifted their price objective on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Thursday, October 24th. Stephens began coverage on PROG in a report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 target price for the company. Jefferies Financial Group upped their price target on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Loop Capital raised PROG from a “hold” rating to a “buy” rating and increased their price target for the company from $41.00 to $55.00 in a research report on Monday, August 19th.

PROG Stock Down 1.9 %

NYSE:PRG opened at $48.21 on Friday. PROG has a 52 week low of $26.39 and a 52 week high of $50.28. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The stock’s fifty day moving average is $47.18 and its two-hundred day moving average is $42.02. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.35 and a beta of 2.11.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. The firm had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. PROG’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Research analysts anticipate that PROG will post 3.35 EPS for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG’s dividend payout ratio (DPR) is 13.30%.

Insider Transactions at PROG

In other news, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the sale, the chief financial officer now owns 107,720 shares in the company, valued at approximately $5,309,518.80. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP George M. Sewell sold 3,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the sale, the vice president now directly owns 12,639 shares of the company’s stock, valued at $617,794.32. The trade was a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,207 shares of company stock valued at $5,759,152. 2.74% of the stock is currently owned by corporate insiders.

Institutional Trading of PROG

Several institutional investors and hedge funds have recently bought and sold shares of PRG. CANADA LIFE ASSURANCE Co raised its stake in PROG by 8.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,065 shares of the company’s stock valued at $1,414,000 after acquiring an additional 3,120 shares during the last quarter. Burney Co. acquired a new stake in shares of PROG during the first quarter worth $2,397,000. DekaBank Deutsche Girozentrale acquired a new position in PROG in the 1st quarter valued at $59,000. SG Capital Management LLC purchased a new position in PROG during the 1st quarter worth $5,932,000. Finally, SG Americas Securities LLC raised its position in PROG by 954.5% during the 2nd quarter. SG Americas Securities LLC now owns 50,574 shares of the company’s stock worth $1,754,000 after buying an additional 45,778 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Company Profile

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.