PROG Holdings, Inc. (NYSE:PRG) Receives Consensus Recommendation of "Buy" from Analysts

Shares of PROG Holdings, Inc. (NYSE:PRG - Get Free Report) have earned an average rating of "Buy" from the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $44.83.

A number of analysts have weighed in on PRG shares. Loop Capital lowered their price target on PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. KeyCorp lowered their price target on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, 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 report on Wednesday, February 26th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On PROG

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of PROG by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,411 shares of the company's stock valued at $91,000 after acquiring an additional 413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PROG by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company's stock valued at $980,000 after buying an additional 446 shares during the period. LPL Financial LLC lifted its stake in PROG by 2.4% in the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company's stock valued at $833,000 after buying an additional 458 shares during the period. Comerica Bank lifted its stake in PROG by 1.2% in the fourth quarter. Comerica Bank now owns 39,029 shares of the company's stock valued at $1,649,000 after buying an additional 473 shares during the period. Finally, State of Wyoming lifted its stake in PROG by 10.9% in the fourth quarter. State of Wyoming now owns 5,694 shares of the company's stock valued at $241,000 after buying an additional 560 shares during the period. Institutional investors and hedge funds own 97.92% of the company's stock.

PROG Stock Performance

PRG opened at $29.45 on Tuesday. The stock has a market cap of $1.19 billion, a PE ratio of 6.49 and a beta of 1.79. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. PROG has a 1 year low of $23.50 and a 1 year high of $50.28. The stock's 50 day simple moving average is $27.78 and its 200-day simple moving average is $33.85.

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

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was 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.

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