PROG (NYSE:PRG) Shares Gap Up to $32.01

PROG Holdings, Inc. (NYSE:PRG - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $32.01, but opened at $32.92. PROG shares last traded at $32.11, with a volume of 41,764 shares trading hands.

Analyst Upgrades and Downgrades

PRG has been the subject of several research reports. Stephens upgraded PROG from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, January 2nd. TD Cowen assumed coverage on PROG in a research report on Friday, March 8th. They set an "outperform" rating and a $37.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.60.

PROG Stock Up 0.8 %

The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. The company has a market capitalization of $1.41 billion, a P/E ratio of 10.91 and a beta of 2.08. The stock has a 50-day moving average price of $32.19 and a 200-day moving average price of $30.61.

PROG (NYSE:PRG - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.05. The business had revenue of $577.40 million during the quarter, compared to the consensus estimate of $568.35 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. On average, research analysts predict that PROG Holdings, Inc. will post 2.83 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. PROG's payout ratio is currently 16.22%.

Institutional Investors Weigh In On PROG

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank grew its stake in PROG by 0.6% in the fourth quarter. Comerica Bank now owns 62,643 shares of the company's stock valued at $1,936,000 after acquiring an additional 393 shares during the period. Diversified Trust Co grew its stake in PROG by 6.2% in the fourth quarter. Diversified Trust Co now owns 6,760 shares of the company's stock valued at $209,000 after acquiring an additional 397 shares during the period. Counterpoint Mutual Funds LLC grew its stake in PROG by 19.0% in the third quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company's stock valued at $119,000 after acquiring an additional 570 shares during the period. Blue Trust Inc. acquired a new stake in PROG in the fourth quarter valued at approximately $27,000. Finally, BluePath Capital Management LLC acquired a new stake in PROG in the third quarter valued at approximately $31,000. 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.