PROG Holdings, Inc. (NYSE:PRG) Given Consensus Recommendation of “Buy” by Analysts

PROG Holdings, Inc. (NYSE:PRG) has earned an average rating of “Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $53.83.

A number of analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. KeyCorp increased their target price on 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 note on Thursday, October 24th. Stephens initiated coverage on shares of PROG in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, TD Cowen upgraded shares of PROG to a “strong-buy” rating in a report on Friday, November 29th.

PROG Stock Down 2.0 %

Shares of NYSE PRG opened at $42.15 on Tuesday. PROG has a 12-month low of $27.84 and a 12-month high of $50.28. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.68 and a beta of 2.15. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $45.81 and its 200-day moving average price is $43.43.

PROG (NYSE:PRG) last issued its 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. The business had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. On average, equities research analysts anticipate that PROG will post 3.36 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Tuesday, November 19th. PROG’s dividend payout ratio is currently 13.30%.

Insider Activity at PROG

In related news, 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 transaction of $171,080.00. Following the sale, the vice president now owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. The trade was a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Todd King sold 1,500 shares of PROG stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the transaction, the insider now directly owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock worth $5,759,152 in the last three months. Insiders own 2.74% of the company’s stock.

Institutional Investors Weigh In On PROG

A number of institutional investors and hedge funds have recently bought and sold shares of PRG. Franklin Resources Inc. grew its holdings in shares of PROG by 40.9% during the third quarter. Franklin Resources Inc. now owns 45,411 shares of the company’s stock worth $2,180,000 after buying an additional 13,186 shares in the last quarter. Barclays PLC lifted its stake in shares of PROG by 22.7% in the 3rd quarter. Barclays PLC now owns 347,155 shares of the company’s stock valued at $16,834,000 after purchasing an additional 64,197 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of PROG during the 3rd quarter worth about $868,000. Wellington Management Group LLP raised its stake in shares of PROG by 1.6% in the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock valued at $20,090,000 after acquiring an additional 6,517 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of PROG during the third quarter worth about $560,000. 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.