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

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned an average rating of “Buy” from the seven analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $53.83.

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

Insider Buying and Selling

In related news, CFO Brian Garner sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the completion of the transaction, the chief financial officer now owns 107,720 shares of the company’s stock, valued at approximately $5,309,518.80. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven A. Michaels sold 27,324 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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. The trade was a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock worth $5,759,152 over the last ninety days. 2.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in PROG by 40.9% in the third quarter. Franklin Resources Inc. now owns 45,411 shares of the company’s stock valued at $2,180,000 after acquiring an additional 13,186 shares during 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 during the last quarter. XTX Topco Ltd acquired a new position in PROG during the third quarter valued at approximately $868,000. Wellington Management Group LLP lifted its stake in shares of PROG by 1.6% in the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after buying an additional 6,517 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in PROG in the 3rd quarter valued at $560,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Stock Down 1.0 %

PROG stock opened at $47.38 on Friday. The business has a fifty day moving average of $47.07 and a two-hundred day moving average of $42.45. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. PROG has a twelve month low of $27.84 and a twelve month high of $50.28. The firm has a market cap of $1.97 billion, a P/E ratio of 13.12 and a beta of 2.15.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS 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 company had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. During the same quarter last year, the business earned $0.90 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that PROG will post 3.35 earnings per share for the current fiscal year.

PROG Dividend Announcement

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, November 19th. PROG’s dividend payout ratio is currently 13.30%.

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.