Jefferies Financial Group Raises PROG (NYSE:PRG) Price Target to $58.00

PROG (NYSE:PRG) had its price target boosted by Jefferies Financial Group from $50.00 to $58.00 in a report released on Tuesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other research firms also recently weighed in on PRG. TD Cowen increased their target price on PROG from $40.00 to $47.00 and gave the company a buy rating in a report on Thursday, July 25th. BTIG Research initiated coverage on PROG in a report on Friday, June 7th. They issued a neutral rating on the stock. 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. Finally, Loop Capital raised PROG from a hold rating to a buy rating and increased their target price for the company from $41.00 to $55.00 in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, PROG has an average rating of Moderate Buy and a consensus price target of $50.40.

PROG Trading Down 1.4 %

PROG stock opened at $46.20 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. PROG has a one year low of $26.39 and a one year high of $50.28. The stock has a market capitalization of $1.99 billion, a PE ratio of 18.86 and a beta of 2.11. The business’s fifty day moving average is $45.47 and its 200 day moving average is $38.33.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The company had revenue of $592.16 million for the quarter, compared to analysts’ expectations of $573.23 million. During the same period last year, the firm posted $0.92 earnings per share. PROG’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that PROG will post 3.34 EPS for the current year.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is currently 19.59%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PROG in the second quarter worth about $1,325,000. Point72 DIFC Ltd bought a new position in shares of PROG in the second quarter worth about $47,000. Cubist Systematic Strategies LLC bought a new position in shares of PROG in the second quarter worth about $123,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in PROG during the 2nd quarter valued at approximately $88,000. Finally, Algert Global LLC lifted its holdings in PROG by 136.0% in the 2nd quarter. Algert Global LLC now owns 63,051 shares of the company’s stock worth $2,187,000 after purchasing an additional 36,336 shares in the last quarter. 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.