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

Shares of PROG Holdings, Inc. (NYSE:PRG) have received an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $53.83.

Several research analysts have recently issued reports on the company. Stephens began coverage on PROG in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price target on the stock. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. TD Cowen upgraded shares of PROG to a “strong-buy” rating in a report on Friday, November 29th. Finally, KeyCorp increased their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th.

PROG Stock Performance

Shares of NYSE:PRG opened at $41.99 on Tuesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 11.63 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. PROG has a 1-year low of $27.84 and a 1-year high of $50.28. The business has a 50-day moving average price of $45.81 and a two-hundred day moving average price of $43.48.

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

PROG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 annualized dividend and a yield of 1.14%. PROG’s dividend payout ratio (DPR) is currently 13.30%.

Insider Buying and Selling at PROG

In other news, CFO Brian Garner sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $49.29, for a total value of $246,450.00. Following the sale, the chief financial officer now directly owns 107,720 shares in the company, valued at $5,309,518.80. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP George M. Sewell sold 3,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. bought a new position in PROG in the third quarter valued at $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG during the 3rd quarter worth about $33,000. GAMMA Investing LLC grew its holdings in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after acquiring an additional 337 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of PROG in the second quarter valued at about $47,000. Finally, Quarry LP raised its holdings in PROG by 162.9% during the third quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after acquiring an additional 940 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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.