PROG Holdings, Inc. (NYSE:PRG) Receives Average Rating of "Moderate Buy" from Brokerages

PROG Holdings, Inc. (NYSE:PRG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.83.

Several analysts recently issued reports on the company. Stephens reiterated an "overweight" rating and set a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. KeyCorp reduced their price target on PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group cut PROG from a "buy" rating to a "hold" rating and lowered their price target for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. Finally, Loop Capital cut their price objective on shares of PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th.

PROG Stock Performance

NYSE:PRG remained flat at $26.36 on Monday. The company's stock had a trading volume of 617,923 shares, compared to its average volume of 455,522. The firm has a market capitalization of $1.08 billion, a P/E ratio of 5.81 and a beta of 1.96. PROG has a 52 week low of $23.50 and a 52 week high of $50.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. The firm's 50-day simple moving average is $26.70 and its 200-day simple moving average is $38.21.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.08. PROG had a net margin of 8.01% and a return on equity of 24.25%. The firm had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. On average, research analysts forecast that PROG will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.13 per share. This is a positive change from PROG's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.97%. PROG's dividend payout ratio is currently 10.66%.

Insider Buying and Selling

In other news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $28.01 per share, with a total value of $46,216.50. Following the transaction, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas C. Curling purchased 10,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the acquisition, the director now directly owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. This trade represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of PROG by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company's stock worth $208,646,000 after acquiring an additional 76,810 shares during the last quarter. FMR LLC boosted its holdings in PROG by 5.5% in the 4th quarter. FMR LLC now owns 2,564,441 shares of the company's stock valued at $108,373,000 after purchasing an additional 134,123 shares during the period. Allianz Asset Management GmbH grew its position in PROG by 36.8% in the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock worth $32,951,000 after purchasing an additional 209,805 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in PROG by 1.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company's stock worth $23,773,000 after purchasing an additional 9,162 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of PROG by 7.0% during the 4th quarter. Northern Trust Corp now owns 517,984 shares of the company's stock worth $21,890,000 after purchasing an additional 33,991 shares during the period. 97.92% of the stock is owned by institutional investors.

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.