PROG Holdings, Inc. (NYSE:PRG) Given Average Recommendation of "Buy" by Analysts

Shares of PROG Holdings, Inc. (NYSE:PRG - Get Free Report) have received a consensus recommendation of "Buy" from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $53.83.

A number of research firms recently issued reports on PRG. Jefferies Financial Group raised their price objective on shares of PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. TD Cowen upgraded shares of PROG to a "strong-buy" rating in a research note on Friday, November 29th. KeyCorp upped their price objective on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. Stephens began coverage on PROG in a report on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 target price on the stock. Finally, Raymond James raised PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a report on Thursday, October 24th.

Insider Activity

In related news, CEO Steven A. Michaels sold 27,324 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the completion of the transaction, the chief executive officer now owns 409,209 shares in the company, valued at approximately $19,310,572.71. This represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Todd King sold 1,500 shares of PROG stock in a transaction on Friday, November 8th. The shares were sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the sale, the insider now owns 37,017 shares in the company, valued at approximately $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,207 shares of company stock worth $5,759,152 over the last ninety days. Corporate insiders own 2.74% of the company's stock.

Hedge Funds Weigh In On PROG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after purchasing an additional 337 shares during the last quarter. Diversified Trust Co raised its position in shares of PROG by 7.1% during the 3rd quarter. Diversified Trust Co now owns 7,849 shares of the company's stock valued at $381,000 after buying an additional 520 shares in the last quarter. Inspire Advisors LLC raised its position in shares of PROG by 4.2% during the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company's stock valued at $625,000 after buying an additional 525 shares in the last quarter. Whittier Trust Co. bought a new position in shares of PROG in the 3rd quarter valued at about $26,000. Finally, Financial Management Professionals Inc. purchased a new position in PROG in the third quarter worth about $33,000. 97.92% of the stock is owned by institutional investors.

PROG Stock Performance

PRG traded up $0.78 during mid-day trading on Tuesday, reaching $42.51. 113,143 shares of the company traded hands, compared to its average volume of 408,216. The company's fifty day moving average price is $46.33 and its 200-day moving average price is $43.29. The stock has a market capitalization of $1.77 billion, a P/E ratio of 11.78 and a beta of 2.15. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. PROG has a 52-week low of $27.84 and a 52-week high of $50.28.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. The company had revenue of $606.10 million during the quarter, compared to analysts' expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. PROG's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, sell-side analysts expect that PROG will post 3.36 EPS for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a yield of 1.13%. PROG's dividend payout ratio is presently 13.30%.

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.