Analysts Set PROG Holdings, Inc. (NYSE:PRG) PT at $44.83

PROG Holdings, Inc. (NYSE:PRG - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $44.83.

A number of analysts have weighed in on PRG shares. Jefferies Financial Group lowered PROG from a "buy" rating to a "hold" rating and lowered their target price for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Loop Capital decreased their price objective 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, KeyCorp dropped their price objective on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th.

Insider Buying and Selling at PROG

In other PROG news, CEO Steven A. Michaels purchased 14,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the purchase, the chief executive officer now owns 559,641 shares of the company's stock, valued at approximately $16,246,378.23. The trade was a 2.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Garner acquired 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of $28.93 per share, with a total value of $101,255.00. Following the completion of the transaction, the chief financial officer now directly owns 132,597 shares in the company, valued at $3,836,031.21. The trade was a 2.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of PROG by 22.7% in the 3rd quarter. Barclays PLC now owns 347,155 shares of the company's stock valued at $16,834,000 after acquiring an additional 64,197 shares during the period. Inspire Investing LLC purchased a new stake in PROG during the 4th quarter valued at about $833,000. Veracity Capital LLC acquired a new position in shares of PROG in the fourth quarter valued at about $214,000. Exchange Traded Concepts LLC acquired a new position in shares of PROG in the fourth quarter valued at about $290,000. Finally, DGS Capital Management LLC raised its stake in shares of PROG by 2.0% in the fourth quarter. DGS Capital Management LLC now owns 53,038 shares of the company's stock worth $2,241,000 after purchasing an additional 1,034 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

PROG Stock Down 0.5%

PROG stock traded down $0.15 during midday trading on Friday, hitting $28.89. 394,566 shares of the company's stock were exchanged, compared to its average volume of 476,498. 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 company has a market cap of $1.17 billion, a PE ratio of 6.36 and a beta of 1.81. The firm has a 50-day moving average of $27.03 and a two-hundred day moving average of $35.71. PROG has a 12 month low of $23.50 and a 12 month high of $50.28.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $678.23 million. During the same quarter in the prior year, the company earned $0.91 EPS. The company's revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that PROG will post 3.45 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, May 20th. PROG's dividend payout ratio is currently 10.66%.

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.