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

Shares of PROG Holdings, Inc. (NYSE:PRG - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the firm, 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 12-month target price among brokerages that have issued ratings on 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 cut their price target on PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Loop Capital lowered their price target on PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group lowered shares of PROG from a "buy" rating to a "hold" rating and cut their price objective for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th.

PROG Stock Up 1.1 %

NYSE PRG traded up $0.31 during trading on Monday, reaching $26.94. 39,660 shares of the company's stock were exchanged, compared to its average volume of 455,901. The firm has a market capitalization of $1.10 billion, a PE ratio of 5.93 and a beta of 1.96. PROG has a fifty-two week low of $23.50 and a fifty-two week high of $50.28. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The company's fifty day simple moving average is $26.60 and its 200-day simple moving average is $37.98.

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. Sell-side analysts predict that PROG will post 3.45 EPS for the current year.

PROG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were issued a $0.13 dividend. This is a positive change from PROG's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 13th. PROG's payout ratio is 10.66%.

Insider Buying and Selling at PROG

In other PROG news, Director Douglas C. Curling purchased 10,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $29.88 per share, with a total value of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares in the company, valued at $1,371,880.44. This trade represents a 27.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost 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 $512,330.91. The trade was a 9.92 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company's stock.

Hedge Funds Weigh In On PROG

A number of institutional investors and hedge funds have recently bought and sold shares of PRG. Principal Financial Group Inc. boosted its holdings in PROG by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 206,959 shares of the company's stock valued at $5,505,000 after purchasing an additional 5,315 shares during the period. Hudson Edge Investment Partners Inc. grew its position in PROG by 27.6% during the first quarter. Hudson Edge Investment Partners Inc. now owns 21,693 shares of the company's stock worth $577,000 after buying an additional 4,687 shares in the last quarter. New York State Teachers Retirement System increased its stake in PROG by 5.7% during the first quarter. New York State Teachers Retirement System now owns 67,466 shares of the company's stock valued at $1,795,000 after acquiring an additional 3,614 shares during the period. Diversified Trust Co raised its holdings in PROG by 7.2% in the 1st quarter. Diversified Trust Co now owns 8,647 shares of the company's stock valued at $230,000 after acquiring an additional 583 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of PROG by 13.4% in the 1st quarter. Moran Wealth Management LLC now owns 70,993 shares of the company's stock worth $1,888,000 after acquiring an additional 8,362 shares during the period. Institutional investors own 97.92% of the company's stock.

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.