PROG Holdings, Inc. (NYSE:PRG) Receives $53.83 Average PT from Analysts

PROG Holdings, Inc. (NYSE:PRG) has been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $53.83.

A number of analysts have issued reports on PRG shares. Jefferies Financial Group lifted their target price on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Thursday, October 24th. Finally, TD Cowen upgraded shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th.

Insider Buying and Selling at PROG

In other news, CFO Brian Garner sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the sale, the chief financial officer now owns 107,720 shares of the company’s stock, valued at approximately $5,309,518.80. This represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Curtis Linn Doman sold 3,584 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.02, for a total transaction of $172,103.68. Following the completion of the sale, the director now directly owns 250,940 shares in the company, valued at approximately $12,050,138.80. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock valued at $5,759,152 in the last 90 days. 2.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROG

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares during the last quarter. State Street Corp grew its holdings in PROG by 6.9% during the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after acquiring an additional 114,498 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in PROG by 0.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after acquiring an additional 6,803 shares during the last quarter. American Century Companies Inc. grew its holdings in PROG by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after acquiring an additional 84,497 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in PROG by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after acquiring an additional 6,517 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Performance

Shares of PRG opened at $42.31 on Friday. The company’s 50 day moving average price is $44.39 and its 200 day moving average price is $44.41. PROG has a 52 week low of $27.84 and a 52 week high of $50.28. The company has a market capitalization of $1.76 billion, a PE ratio of 11.72 and a beta of 2.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $606.10 million for the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. Research analysts expect that PROG will post 3.36 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, November 19th. PROG’s dividend payout ratio (DPR) is presently 13.30%.

About PROG

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.