PROG Holdings, Inc. (NYSE:PRG) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of PROG Holdings, Inc. (NYSE:PRG - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the firm, Marketbeat reports. Two 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 twelve-month price target among analysts that have issued ratings on the stock in the last year is $44.83.

PRG has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered PROG from a "buy" rating to a "hold" rating and reduced their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Stephens reaffirmed an "overweight" rating and issued a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. Loop Capital decreased their price objective on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a report on Thursday. Finally, KeyCorp reduced their target price on shares of PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday.

Insider Activity at PROG

In related news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the purchase, the director now directly owns 18,291 shares of the company's stock, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 of the company's stock, valued at approximately $1,371,880.44. The trade was a 27.85 % increase in their position. The disclosure for this purchase can be found here. 3.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PROG

Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH grew its stake in PROG by 36.8% during the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock worth $32,951,000 after buying an additional 209,805 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of PROG by 2,008.0% during the fourth quarter. Marshall Wace LLP now owns 178,550 shares of the company's stock valued at $7,546,000 after acquiring an additional 170,080 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of PROG by 170.7% in the 4th quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company's stock valued at $10,521,000 after purchasing an additional 157,006 shares during the last quarter. Norges Bank acquired a new stake in PROG in the 4th quarter worth approximately $6,093,000. Finally, FMR LLC grew its position in PROG by 5.5% during the 4th quarter. FMR LLC now owns 2,564,441 shares of the company's stock worth $108,373,000 after purchasing an additional 134,123 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Stock Performance

NYSE:PRG opened at $25.78 on Monday. The firm has a market capitalization of $1.05 billion, a PE ratio of 5.68 and a beta of 1.96. The stock's fifty day moving average is $26.86 and its 200 day moving average is $38.44. PROG has a fifty-two week low of $23.50 and a fifty-two 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.

PROG (NYSE:PRG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating 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 business had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. On average, sell-side analysts anticipate that PROG will post 3.45 earnings per share for the current year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from PROG's previous quarterly dividend of $0.12. PROG's dividend payout ratio is presently 10.66%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.