PROG (NYSE:PRG) Shares Gap Up to $43.81

PROG Holdings, Inc. (NYSE:PRG) gapped up before the market opened on Monday . The stock had previously closed at $43.81, but opened at $45.28. PROG shares last traded at $44.82, with a volume of 39,157 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PRG shares. Loop Capital boosted their price objective on shares of PROG from $35.00 to $41.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. KeyCorp upped their price target on shares of PROG from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upped their price target on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, BTIG Research assumed coverage on shares of PROG in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.60.

PROG Trading Up 4.0 %

The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 17.88 and a beta of 2.09. The business’s 50 day moving average price is $37.28 and its 200-day moving average price is $34.73. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. PROG’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Equities analysts expect that PROG Holdings, Inc. will post 3.34 EPS for the current year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is 19.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in shares of PROG in the second quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale bought a new position in shares of PROG in the first quarter valued at approximately $59,000. Blue Trust Inc. boosted its holdings in PROG by 2,015.1% during the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after buying an additional 1,874 shares in the last quarter. nVerses Capital LLC bought a new stake in PROG during the second quarter worth approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in PROG during the second quarter worth approximately $88,000. 97.92% of the stock is currently owned by institutional investors.

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.