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

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $53.83.

Several research analysts have weighed in on PRG shares. Stephens started coverage on shares of PROG in a research report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 target price on the stock. KeyCorp raised their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Loop Capital raised PROG from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $55.00 in a report on Monday, August 19th. Jefferies Financial Group upped their target price on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Thursday, October 24th.

Insiders Place Their Bets

In related news, CFO Brian Garner sold 15,484 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.27, for a total transaction of $747,412.68. Following the transaction, the chief financial officer now owns 92,236 shares of the company’s stock, valued at approximately $4,452,231.72. This represents a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven A. Michaels sold 27,324 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the sale, the chief executive officer now owns 409,209 shares in the company, valued at approximately $19,310,572.71. This trade represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,207 shares of company stock valued at $5,759,152. Corporate insiders own 2.74% of the company’s stock.

Hedge Funds Weigh In On PROG

Several institutional investors have recently added to or reduced their stakes in PRG. FMR LLC increased its position in PROG by 1.3% during the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after purchasing an additional 30,030 shares during the last quarter. State Street Corp grew its stake in shares of PROG by 6.9% during the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock valued at $86,137,000 after buying an additional 114,498 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of 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 buying an additional 6,803 shares during the last quarter. American Century Companies Inc. raised its position in shares of PROG by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after buying an additional 84,497 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in PROG by 1.6% in the third 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 last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Stock Down 1.9 %

PRG opened at $48.21 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. PROG has a 12 month low of $26.39 and a 12 month high of $50.28. The stock has a market capitalization of $2.00 billion, a P/E ratio of 13.35 and a beta of 2.11. The business has a 50 day simple moving average of $47.18 and a 200-day simple moving average of $42.02.

PROG (NYSE:PRG) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter last year, the company earned $0.90 earnings per share. PROG’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that PROG will post 3.35 earnings per share for the current fiscal year.

PROG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Tuesday, November 19th. PROG’s dividend payout ratio (DPR) is presently 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.