PROG Holdings, Inc. (NYSE:PRG) Receives $53.83 Consensus PT from Brokerages

PROG Holdings, Inc. (NYSE:PRG) has earned a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $53.83.

Several research analysts have commented on PRG shares. KeyCorp raised their target price on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Stephens started coverage on PROG in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 target price for the company. Loop Capital raised PROG from a “hold” rating to a “buy” rating and raised their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. Jefferies Financial Group raised their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, TD Cowen raised PROG to a “strong-buy” rating in a report on Friday, November 29th.

PROG Stock Down 0.6 %

PRG stock opened at $48.11 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.33 and a beta of 2.15. PROG has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The stock has a fifty day moving average of $47.12 and a 200-day moving average of $42.32.

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

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s dividend payout ratio is 13.30%.

Insider Activity at PROG

In related news, CEO Steven A. Michaels sold 27,324 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the transaction, the chief executive officer now directly owns 409,209 shares in the company, valued at $19,310,572.71. This trade represents a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curtis Linn Doman sold 62,815 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $48.75, for a total value of $3,062,231.25. Following the transaction, the director now owns 174,524 shares in the company, valued at approximately $8,508,045. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,207 shares of company stock valued at $5,759,152. Corporate insiders own 2.74% of the company’s stock.

Hedge Funds Weigh In On PROG

Several institutional investors and hedge funds have recently bought and sold shares of PRG. Whittier Trust Co. bought a new stake in shares of PROG in the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of PROG in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC grew its position in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of PROG in the 2nd quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of PROG in the 1st quarter worth approximately $59,000. 97.92% of the stock is currently owned by institutional investors.

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.