Propel Holdings Inc. (TSE:PRL) Given Average Rating of "Strong Buy" by Analysts

Key Points

• Propel Holdings Inc. has received a consensus rating of "Strong Buy" from six research firms, with three analysts giving a buy rating and three a strong buy rating.
• The company has increased its quarterly dividend from $0.18 to $0.78 per share, marking a 9.7% yield and signifying a commitment to returning value to shareholders.
• Insider trading has been active, with key executives selling a total of 86,288 shares in the past three months, amounting to over $3 million in value.

Propel Holdings Inc. (TSE:PRL - Get Free Report) has been assigned a consensus rating of "Strong Buy" from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company.

Several equities research analysts recently weighed in on PRL shares. Scotiabank raised their price objective on Propel from C$38.00 to C$43.00 in a report on Wednesday, July 23rd. Cormark raised Propel to a "moderate buy" rating in a report on Thursday, July 10th. Finally, Raymond James Financial cut their target price on Propel from C$46.00 to C$42.00 in a report on Wednesday, July 16th.

Propel Stock Up 0.9%

TSE PRL opened at $32.13 on Thursday. Propel has a twelve month low of $20.99 and a twelve month high of $43.36. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 21.71 and a beta of 1.53. The business's fifty day moving average is $35.32 and its 200 day moving average is $31.02.

Propel Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a boost from Propel's previous quarterly dividend of $0.18. Propel's dividend payout ratio (DPR) is presently 30.81%.

Insider Activity

In other news, Director Clive Kinross sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $34.23, for a total value of $342,300.00. Also, Senior Officer Noah Buchman sold 26,871 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $37.34, for a total value of $1,003,424.94. In the last three months, insiders sold 86,288 shares of company stock worth $3,134,356. 33.31% of the stock is owned by corporate insiders.

Propel Company Profile

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states.

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