Brokerages Set PROG Holdings, Inc. (NYSE:PRG) PT at $53.83

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

A number of research firms recently weighed in on PRG. TD Cowen upgraded PROG to a "strong-buy" rating in a report on Friday, November 29th. Jefferies Financial Group raised their price objective on PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Stephens reiterated an "overweight" rating and issued a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. Finally, Raymond James upgraded shares of 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.

PROG Price Performance

NYSE:PRG traded up $0.17 on Friday, hitting $43.07. The company had a trading volume of 491,252 shares, compared to its average volume of 312,215. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 11.93 and a beta of 2.17. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $44.92 and a two-hundred day moving average of $44.09. PROG has a 52 week low of $27.84 and a 52 week high of $50.28.

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

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Tuesday, November 19th. PROG's dividend payout ratio (DPR) is 13.30%.

Insider Transactions at PROG

In other news, CFO Brian Garner sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the sale, the chief financial officer now owns 107,720 shares of the company's stock, valued at $5,309,518.80. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 directly owns 37,017 shares of the company's stock, valued at approximately $1,738,688.49. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,207 shares of company stock valued at $5,759,152 in the last quarter. 2.74% of the stock is currently owned by company insiders.

Institutional Trading of PROG

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in PROG by 72.0% in the 3rd 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 period. Diversified Trust Co boosted its holdings in PROG by 7.1% during the 3rd quarter. Diversified Trust Co now owns 7,849 shares of the company's stock worth $381,000 after acquiring an additional 520 shares during the last quarter. Inspire Advisors LLC boosted its holdings in PROG by 4.2% during the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company's stock worth $625,000 after acquiring an additional 525 shares during the last quarter. Whittier Trust Co. purchased a new position in PROG during the 3rd quarter worth $26,000. Finally, HB Wealth Management LLC boosted its holdings in PROG by 4.1% during the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company's stock worth $684,000 after acquiring an additional 631 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

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.